US tech stocks weigh on Dax performance – VIP News

For the Dax, it goes down again. The weak prospects of the American giant of technology Alphabet (Google) and Amazon prevent any attempt of recovery.

The Dax slipped at noon of 2.17% to 11,061.27 points. He again approached the mark of 11,000 points, of which he only broke the daily low of about 50 points. The leading indicator remains at its lowest level in almost two years. During the week, he went to a discount of over 4%.

At mid-day, only Lufthansa shares rose 1%. In the aeronautical industry in general, the figures provided by IAG have been well received. The holding company British Airways and Iberia offset the higher costs of kerosene from third-quarter ticket prices – an encouraging signal for the sector.

Once again, however, the German market remains suspended by losses on the US stock markets, which should again be under pressure at the end of the week. In this context, the MDax with its medium-sized German shares fell by 2.25% to 23,132.31 points. The EuroStoxx 50 leading index of the euro area lost 2.11% to 3097.66 points.

Amazon and Alphabet disappoint investors

"Instead of a headwind coming from Wall Street, the European stock markets are blowing against a disappointing news of some tech heavyweights," said market badyst Milan Cutkovic of broker Axitrader. In his opinion, investors had a lot of hope in the figures and views presented by Amazon and Alphabet, who are now following the disappointment.

Amazon's record gain in the third quarter is not enough for investors, as shown by sub-market prices in the commercial giant. The outlook for the Christmas district was particularly disappointing. Google's mother did not convince Alphabet with her quarterly report.

Covestro sank after many comments from bad badysts

In the Dax, BASF was focusing on quarterly figures at the end of the week. Integration and conversion costs weighed on the chemical company in the third quarter. Analyst Markus Mayer of Baader Bank now sees annual targets in jeopardy. The stock fell 2.6%.

The losses at Covestro were even greater, at 5.4%. Within the specialty chemicals company, skeptical badysts' comments have accumulated after the figures presented previously. Sebastian Bray of Bank Berenberg made a special purchase with a canceled buy recommendation. Shares are now at their lowest level in two years.

The biggest loser of Dax, however, was Wirecard with a 6.75% reduction. Here, it has been said on the market, the actions are burdened by the Amazonian perspectives – as well as by those of Zalando, who fell more than 4% in the MDax. According to dealers, Amazon has limited prospects for the important Christmas activity. In addition to the Zalando dealer, this is also a bad sign for payment service providers such as Wirecard, who earn with.

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MDax: the flea sector continues to decline

Friday, the flea sector was cloudy again. Infineon's shares lost 3.6% in the Dax and Siltronic's industrial supplier shares continued their free fall in the MDax with a reduction of more than 8%. The mood is still dominated by the threat of a weakened global semiconductor cycle, a retailer said.

The automotive sector also announced a bad feeling: a warning on the profits of Valeo, its French competitor, weighed more than 3% on prices at Continental Schaeffler, which lost 4% on MDax, after a dip unprecedented. Rheinmetall fell by 6%.

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