Many investors are still holding back, awaiting US Federal Reserve Chairman Jerome Powell’s speech on continued monetary policy on Friday. The Dax prolongs its losses of the day before. DWS shares collapse.
European investors have not given up on fears of an economic slowdown due to the increase in the number of corona. Of Dax lost 0.4% to 15,794 points on Thursday. The rise in prices and the number of corona are depressing the mood of German consumers more than expected. According to analyst Claus Niegsch of DZ Bank, the recovery of many industries after the pandemic could take much longer than during the financial crisis in 2008. This is mainly due to the decline in consumer spending by consumers. private households caused by blockages. Many investors were also unwilling to take risks before Fed Chairman Jerome Powell spoke on a possible reduction in bond purchases on Friday.
Among the values of the first stock market league, the papers of Deutsche Bank were particularly punished, which with less than 2.3% were among the biggest losers of Dax. According to media reports, both the Federal Financial Supervisory Authority (Bafin) and several US authorities are investigating the sustainable investment products of the DWS fund subsidiary. Supervisors investigated suspicion that the portfolio management company was too lax with criteria for sustainable investments. DWS shares listed on S-Dax collapsed 13.7%. One of the big favorites of the S-Dax was the Fielmann titles with a premium of three percent. The optician took advantage of the removal of restrictions to contain the corona pandemic and saw a jump in his profits in the first half of the year and raised his profit forecast for the second time in a few weeks. Shares of French media giant Vivendi rose 2.5% in Paris. The Universal Music Group label, which aims to go public in September, expects sales growth of more than ten percent in 2021, and operating income is expected to rise by a good 20 percent. Investors on US stock exchanges were also reluctant to buy larger stocks. The Dow Jones was down 0.2% at midpoint. Against the trend, Salesforce papers gained 5% in value. Competitor SAP has more confidence after taking over desktop chat provider Slack and raising its forecast.