FRANKFURT (Dow Jones ) – The German stock market on Wednesday afternoon to give the courses mainly for something. The DAX lost 14.09 to clock 0.4% or 27 points to 6249 . Dealers speak of a "wait and trade with only minor price fluctuations and the majority of individual values. (Photo : German stock exchange)
"The breather continues , "said one trader , who speaks of technically-oriented profit-taking. To build off their overbought situation that had arisen with the rapid rally of over 5800 to almost 6300 points , says the trade.
" Investors expect that the stretching breather , "said one dealer. He thinks the DAX am now just under a strong resistance area, which start at 6290 points and up to the Year 6287 at points of . On the U.S. market , the S & P 500 was on its 1.130er brand and thus from similar tough resistance.
Focus is mainly the foreign exchange market with the first intervention of the Japanese central bank for six years. "A falling yen could continue at some point the competitive position of European companies charge , "said one dealer. First, the investors but also looked at the fixed templates from Tokyo , because there are courses with the weaker yen rose strongly .
The next three trading days , according to traders should be determined primarily from the September expiration of the derivatives exchange Eurex. Dealer grant the DAX upside potential. If the DAX to rise more than 6,300 , there could be a covering rally : " When the year of 6387 points must not then be an end , "said one market participant. New impulse from the U.S. come from the Empire State Manufacturing Index and the capacity utilization of U.S. industry.
When the individual values fall Pharma title with losses: " Investors are reducing their overweight , "said one dealer. FMC to fall by 0.8% to 43.90 EUR and Merck KGaA by 1.3 % to 70.96 EUR . German bank to fall by 1.7 % to 48.39 EUR , the analysts at Merck Finck & Co. have lowered their price target to 53 EUR from 58 EUR . K + S and Lufthansa to reduce by about 1%, here to talk distributor of profit-taking.
Infineon , however, gain 2.2% to 4.40 EUR . The title had given the previous day clearly. German stock exchange gain 1.3% to 50.95 EUR and adidas and Commerzbank also disclose something. In the second row Lanxess to increase by 2.0% to 40.62 EUR . Lanxess said in its Investor Day, the group wanted to achieve by the year 2015, an increase in EBITDA before special items increased 80 % to around EUR 1.4 billion .
One dealer said , however, there would have to undertake hard facts such as rising orders , surprisingly good data on the chemistry of Economic and matching corporate acquisitions on the table. In addition, a five -year outlook is occupied with too many uncertainties.
Axel Springer to give up 3.2 % to 93.24 EUR . Here, the rejection of a bid by the French SeLoger charged . " That was actually tightly scheduled and confuses the market, " said one dealer. Otherwise, was very well received, that Springer CFO Lothar Lanz confirmed that the free float increased by early December to more than 40 %, which is to be almost doubled . "This is something the stock more attractive to institutional investors , "said a dealer. Axel Springer to rise on Friday evening in the MDAX .
SMA Solar lose 0.1 % to 88.41 EUR , after they had temporarily located on the morning of 6% in the black. Which had been driven there by increased sales and margin forecasts upwards.
By Herbert – Rude, Dow Jones Newswires
+49(0)69-29725217, herbert.rude @ dowjones.com
DJG / hru / FLF / sh