Dax slips prices below 12,300 points: the trade dispute China USA weighed on chip values

The fear of a trade war weighed on the Dax. There is no action on Wall Street today. Meanwhile, China is a source of nervousness among US technology investors. RWE and Eon utility stocks continue their rally.

Amid the escalation of the Sino-US trade conflict, sentiment on the European stock markets has deteriorated mid-week. The Dax was slightly down in the afternoon with 12 290 points. The EuroStoxx has also yielded.

There was no impetus from Wall Street, the US stock markets remain closed due to Independence Day. In Tuesday's shortened session, worries over a trade war put pressure on technology stocks in particular.

"It could be the calm before the storm today when the United States and China will come Friday in the customs dispute," said a dealer. Many investors stayed behind and tried to trade as little as possible. "In such a situation, no one likes to position themselves in the long run." According to Mau, sales were in the Dax.

Rates Come Into Force Friday – China Takes a Pin Sting Against US Micron Microchip Society

Friday, threatened by the US tariffs of US President Donald Trump on Chinese goods worth $ 34 billion in force. China also wants to raise tariffs on US products in the same volume from the same day, an insider told Reuters.

As the Shanghai and Shenzhen stock markets fell again, the yuan stabilized somewhat. Meanwhile, insiders in Beijing see no parallel between the current devaluation of the national currency and the stock market crash of 2015, when the central bank with billions of dollars had to help the yuan.

Prohibition of importation for Micron in China – Technological values ​​are by no means immune

An import ban from US chip maker Micron in China has also weighed on the technology sector in Europe. Infineon, ASML and STMicroelectronics lost up to 3%. A Chinese court has banned Micron from selling 26 chip products in China, according to rival Taiwan company United Microelectronics (UMC) and its Chinese partner. Micron shares lost more than five percent in a weak environment on Tuesday. "Investors who had promised to invest in immunity against technological conflicts in the US technology stocks are now experiencing a rude awakening," said badyst Jochen Stanzl of the house of business. CMC Markets.

Utilities in the Dax asked: RWE and Eon add

On the other hand, the utilities were again firmer. In the Dax, RWE and E.ON were among the biggest winners with gains of up to 3%.

The shares of ThyssenKrupp increased by 2.8% to 21.43 EUR. UBS has recommended the securities for purchase and raised the target price from 24 to 30 euros. In addition, Heinrich Hiesinger, CEO of the group, claimed that after the split in the steel business, the conglomerate would continue to be rebuilt.

Marketer CTS Eventim very weak

Eventim CTS lost more than eight percent. Analysts had criticized the cash machine.

Car manufacturers sell more in the United States

Thyssenkrupp shares earn 2.5%. CEO Heinrich Hiesinger claimed, after the split of the steel business to further convert the conglomerate. In addition, the UBS recommended the title for traders to buy. Analysts have ranked the stock on "buy" from "neutral" and have increased the price target to 30 from 24 previously.

The shares of the German automaker showed on Wednesday that the stock market initially barely moved by moderate US sales for June.

Deutz shares collapse

Sharp Swings caused a withdrawal of the Deutz stock market chart from its Chinese joint venture. The engine owner completely leaves the joint venture "Deutz Dalian" and sells his 50% stake in his partner FAW. Shares initially gained about 2.5%, but fell by more than 6%.

Oil prices
go up again, the euro exceeding $ 1.16

Oil prices resumed Wednesday after their fall on Tuesday afternoon. A dam (159 liters) of the North Sea Brent for delivery in August costs $ 78.11 in the morning. It was 35 cents more than Tuesday. The price of a barrel of the West Texas Intermediate (WTI) rose 40 cents to $ 74.54.

On Tuesday, oil prices initially rose, but had been under heavy pressure in the afternoon. Before price declines, US crude oil surpbaded the $ 75 mark for the first time since the end of 2014. However, however, followed by a rapid collapse of up to two and a half dollars. Later, prices stabilized again.

The euro in dollars
The stock market index was well above the $ 1.16 mark on Wednesday. However, overnight profits have not fully supported the single currency. On Wednesday morning, one euro costs 1.1664 dollars. The European Central Bank (ECB) set the benchmark rate at $ 1.1665 Tuesday afternoon