FRANKFURT (Dow Jones) – The German stock market tends on Wednesday afternoon light . At 12.55 BST clock loses the DAX 0.8% or 50 points to 6226 points. Dealer sales to make sure European futures markets responsible. "Even a certain disappointment with the Fed plays a role , "said one dealer. (Photo : German stock exchange)
Some investors have probably speculated that the Fed will provide immediate additional steps to increase the money supply known. These were to materialize. The investors ranged from the hope of additional liquidity in the near future and the concern that in the U.S. economy does not run around . While the reaction was conduct on the Fed statement on Tuesday on the U.S. stock markets, the dollar shows weak. At noon , the euro rose to its highest level since April, .
Among the economic data are likely to see players on the European consumer confidence. The business climate in Belgium , the industry is strongly focused on primary products , is expected next as a leading indicator for the Ifo index. In the U.S., especially the FHFA House Price Index is in sight. "The market will look very carefully at whether here also seeing a correction, as in the U.S. the day before new buildings , "said another dealer . Then probably the markets recover significantly. In the evening, is a speech by U.S. Treasury Secretary Timothy Geithner.
Among the losers in the DAX Lufthansa. The stock price falls by 2.3% to 13.34 EUR and are thus almost all of their previous day’s gains again. "The market yesterday a little too euphoric to the IATA forecast react ", said one dealer. The International Air Transport Association have contributed to increase its forecast for the current year, " on closer inspection they were also , however, only emphasizes the uncertainties , "says the dealer.
Daimler are 1.9 % lighter at 44.78 EUR . The denial of Fiat does not help the stock. The Italian daily "La Repubblica had reported that Daimler had interest in Fiat industrial, a division of the Turin Auto Group. The price should amount to EUR 9 billion .
Siemens is linked to a depreciation of up to EUR 1.4 billion in the medical sector in the eyes of investors. "No surprise, " says analyst Thomas Wybierek by NordLB . The purchases in the medical field , Siemens had made in 2006 and 2007 were , had been overstated. The share is only 1.2 % to 78.41 EUR .
Plus the other hand, clearly into the BASF turn to the increased sales forecast 2010th In an interview with the Reuters news agency said CEO Jürgen Hambrecht, by the strong Chinese demand could also be the third quarter, higher than market expectations. Demand was also down over the summer months have been strong, although the chemical sector have typically its weakest quarter in the summer time. "These are really strong statements , "said one dealer. BASF to recover about 2 % from the current day’s low and record 0.6% in the plus at 45.55 EUR .
Also on the winning side Infineon associated with an increase of 2.2 % to 4.83 EUR . The technology group has increased the annual forecast on Tuesday . For until the end of September current fourth quarter, the semiconductor manufacturer now anticipates sales growth of 15% from the previous quarter. Previously, a growth in the single digit percentage range , the speech was . In addition, UBS and Exane BNP Paribas have increased their price targets for Infineon.
German bank show up as expected, recovered from the massive sales on Tuesday night. From the high optical loss of 7.5% should be not be deceived , they actually recorded a slight plus , says the trade. " The share price will now be expected plus subscription , "said one dealer. This note down to 4.03 EUR at present . The stock , however, lose only 3.40 EUR , so that it appears about 60 cents compared to the Plus Vortagsschluss . The DAX is calculated after adjusting for the subscription discount.
The second series of the German stock market TUI put 1.7 % to 8.58 EUR . Hapag-Lloyd puts on a loan of EUR 500 million and ended the state guarantees. " This is positive for TUI, Hapag Lloyd , then, can pay back interest on the debt – deposits of TUI , "said one analyst. He also says , however , the rate increase may be overstated. For the development comes as no surprise .
DJG / mgo / hru / raz / sh