A surprisingly strong economic slowdown in China has halted the rally in European stock markets for the time being. The spread of the delta variant of the corona virus has also affected the mood of investors. Investors have also kept an eye out for uncertainties resulting from the collapse of the Afghan government. the Dax lost 0.3% to 15,926 meters at market close on Monday after crossing the 16,000 point mark for the first time on Friday.
Delivery Hero shares, which lost 2.3% of their value, were on the losing side in Dax. HSBC analysts had downgraded the online food supplier from “buy” to “keep”. They justified their decision on the grounds that the overall picture was blurry after last week’s quarterly results. At a 1.7% haircut, Adidas shares were also among the biggest losers in the leading index. However, shares had only reached an all-time high at the start of the month.
In M-Dax, Lufthansa shares were among the lowest values with a minus 3.6%. The federal government has announced that it will sell part of its stake in Lufthansa which it had bought as part of the corona relief measures over the next few weeks. Meanwhile, shares of automotive supplier Hella were just above French competitor Faurecia’s takeover bid of 60 euros per share and were down 3.4%. Speculation on a price of up to 70 euros had recently pushed the Hella price to 68.72 euros. Faurecia shareholders, for their part, were delighted to win the auction race for the headlight specialist: Faurecia shares rose 11.8%.
Falling commodity prices affected European oil stocks. Shares of BP, Royal Dutch Shell and Total traded between 1.3 and 2.4 percent less. Luxury stocks such as LVMH and Kering, owner of Gucci, also fell between 2.3% and just under 5% as investors feared a drag on important deals with Chinese consumers.
On Wall Street, price gains have exceeded market close. The first American index Dow jones reached a record 35,625 points.