FRANKFURT (Dow Jones) – The German stock market is weak in the Wednesday start after the U.S. Federal Reserve (Fed ) has expressed skepticism on the eve of the economic outlook. The DAX lost 9.40 to clock 1.2% or 74 points to 6212 . The statements were met with ambivalence of , says the trade. (Photo : Dt. Börse)
While the Fed takes the expected bond buybacks back on what was to welcome trend , the related statements about the weak U.S. growth, but polluted the atmosphere . In East Asia, particularly in Japan , it was clearly down with the courses , and the futures on the U.S. indices to be stronger.
From a technical point of view, stretch from the consolidation, it is on the market. Resistance in India to see dealers in the area around 6350 points , support was for the upward trend in 6200 good points.
Dealers say sales of futures – oriented and thus a relatively large decline. Heidelberg Cement fall by 2.6 % to 36.28 EUR . Infineon to provide 1.8% to 4.89 EUR . The templates for the technology stocks were particularly weak, say market participants. And Siemens , K + S, Thyssen and German bank to suffer higher than average losses.
On the winning side stand alone VW advantages which increase by 0.3% to 80.18 EUR . Societe Generale has taken the shares on the buy list. Merck are almost unchanged in the market , including adidas keep relatively well with a fall of 0.1 % to 42.42 EUR .
In addition, the reporting season is more in focus . E. ON to give 0.7 % to 23.28 EUR . The quarterly figures are out by E. ON has been estimated at WestLB in line with expectations . Surprisingly well have the gas business is completed, an analyst Peter Wirtz. The fourth quarter is likely to look back , however difficult , so Wirtz sees little room at the annual outlook . Wirtz classifies the paper with the "neutral one ".
In the second row give Rheinmetall from 3.6%, although the company has increased the forecast. "Especially in cyclical shares profits are taken away , "said one dealer. Klöckner & Co give off 2.2% to 16.69 EUR , although the steel distributor has raised its margin outlook. TUI tend weaker after the company ‘s interim 1.3%.
Aurubis tend however held up well . The figures would easily than expected , says one analyst. Sales rose to 7.05 billion from EUR 4.7 billion last year. Thanks to the higher copper price and old stocks were upgraded , which caused a higher pre-tax profit of EUR 211 million after a loss of EUR 8 million a year ago. Douglas also tend to the number template performed well.
place in the TecDAX freenet after its interim 3.6 % to 8.27 EUR . The two most important nominal sizes EBITDA and ARPU , the company has exceeded expectations clear, " says a trader . ARPU (average revenue per user ) exceeded the forecast by 2.5 %, the EBITDA the expectation equal to 11%.
Phoenix Solar fall against 4.2% to 31.67 EUR , although the numbers according to traders " have turned out very well. " "Positive is mostly already priced in , the concern of investors is already on the development of 2011 , "said one dealer. The TecDAX falls by 1.0 % and the MDAX was 1.2 %.
By Herbert – Rude, Dow Jones Newswires
+49 ( 0) 69-29725217 , herbert.rude @ dowjones.com
DJG / hru / gos / voi