Markets

German stock market 4 percent in the red

D.he worsening corona crisis with rapidly increasing numbers of infections and an impending “lockdown” in Germany push prices on the German stock market down sharply on Wednesday. The F.A.Z.-index, which covers the market with 100 values, recently lost 3.7 percent to 2052 points. The Dax standard value index fell by almost 4 percent to 11,568 points, slipping below the 12,000 mark for the first time since June.

Before the corona crisis summit by the federal and state governments in the course of the day, some radical measures were expected. “The fear of a second lockdown is wandering around on the Frankfurt stock exchange,” said analyst Christian Henke from brokerage firm IG.

In view of the rapidly increasing number of infections across Europe, the risks for the economic outlook are increasing, according to Commerzbank. This Wednesday, the federal and state governments will discuss how to contain the pandemic. A further tightening of the restrictions is emerging. Chancellor Angela Merkel wants to close restaurants for a month.

Only a handful of stocks showed price gains, above all the food delivery service Delivery Hero with a premium of 3.7 percent. After an unexpectedly high profit, the shares of Deutsche Bank are hardly changed, initially their price had also fallen by more than 4 percent.

The Munich IT consultancy Cancom expects a lower operating result despite higher sales. So far, the company had expected a moderate increase. The course is down 13 percent.


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To the detailed view

The share price of the group organizer CTS Eventim, which is likely to have been badly affected by new control measures, has fallen by 8 percent, as has that of the New Work career network.

The commercial kitchen supplier Rational has only achieved three quarters of the previous year’s sales after nine months. The usual increase in sales in the fourth quarter is not expected in 2020. Budgets are often frozen, in addition to the uncertainty in the catering industry due to the corona crisis. A serious forecast is not possible. The rational rate falls by almost 4 percent.

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