Stocks – Chinese economic data weighs on economy

Weak economic data from China prompted investors to be cautious on European stock exchanges on Wednesday. The Dax was listed in the afternoon down 0.2% to 15,685 points. “The Chinese economic data for August was a big disappointment,” said Hao Zhou, a Commerzbank economist. Industrial production and retail sales advanced more slowly than they have been for about a year. Given regional shutdowns due to new corona infections, domestic demand in China in particular was weak, Zhou said. In Dax, Fresenius Medical Care (FMC) papers continued to slide. The actions of the dialysis specialist were down 2.8% at the end of Dax. Shares of parent company FMC Fresenius fell 1.8%. Last week, negative analysts’ comments put FMC under further pressure, and now DZ Bank has removed the papers from its shortlist of “Equity Ideas”. Since the start of the year, stocks have lost about twelve percent of their value.

The dashed hopes of some investors put the Varta papers, which presented themselves at a 3.5% haircut as the lowest M-Dax value. Technology group Apple had not announced any new wireless headphones when it launched its product, for which Varta was known as a button cell supplier. Future DAX member Brenntag failed to secure lasting support for a forecast that was raised again. The chemicals trader’s papers turned after initial gains in the red with 0.9% most recently. In S-Dax, Zooplus shares fell 2.5% after US financial investor KKR walked out of buyout talks. However, the shares are still trading well above the only public offering to date. The financial investor Hellman & Friedman had increased its offer to 460 euros per share.

On the US stock exchanges, however, investors took hold of the stocks. Of Dow jones was 0.3 percent higher after the start of trading. Microsoft shares rose 1.3 percent. The software company announced a billion dollar share buyback. Up to $ 60 billion must be used for this.

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