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09/08 14:55 dpa-AFX: Shares Frankfurt: Dax remains in the red after ECB key rate hike
FRANKFURT (dpa-AFX) - After the key interest rate hike by the European Central Bank (ECB), not too much happened in the Dax on Thursday afternoon. The leading index was last 0.70 percent lower at 12,825.53 points and thus remained at about the level at which it had quoted before the decision.
As expected by most experts, the ECB raised the key interest rate in the euro area by 0.75 percentage points to combat record inflation. It is the largest rate hike in its history. With this, the central bank is sending a signal of determination in the fight against inflation, commented Michael Heise, chief economist at asset manager HQ Trust. In view of the consumer price increase of over nine percent in the euro zone and the loss in value of the euro, this late insight was urgently needed.
The MDax index of mid-caps was last up 0.21 percent at 25,048.26 points. The EuroStoxx 50, the leading index for the euro zone, fell by 0.4 percent.
Financial stocks, which usually benefit from interest rate hikes, were among the favorites in the Dax. Deutsche Bank recovered from its previous day's losses with a gain of three percent. Hannover Re gained 1.7 percent and Munich Re 1.6 percent. For Munich Re, Berenberg Bank expressed optimism ahead of next week's reinsurers' meeting in Monte Carlo.
In the MDax, Commerzbank gained 4.6 percent. CEO Manfred Knof is still targeting a profit in the billions this year despite the threat of recession.
ProSiebenSat.1 lost 2.8 percent. U.S. bank Morgan Stanley had downgraded the media group's stock to "underweight." The cyclical headwinds, particularly for the advertising business, are increasing, it said. Shares in Telefonica Deutschland fell 3.4 percent following a similarly pessimistic study by Berenberg Bank.
SMA Solar was pulled up in the SDax of smaller stocks by a positive study by Goldman Sachs on the U.S. group First Solar and gained 3.2 percent.
The euro was last quoted at 1.0008 U.S. dollars, just above parity. The ECB had set the reference rate the previous day at 0.9885 dollars. On the bond market, the current yield rose from 1.44 percent the previous day to 1.46 percent. The Rex bond index fell 0.09 percent to 131.80 points. Bund futures lost 0.47 percent to 144.65 points./ajx/jha/.
I just put these two screenshots here, because I saw that you have your trading account at "Lang und Schwarz". Among other things, they also operate this free platform "Finanzen.net": (https://tradingdesk.finanzen.net/)
Maybe it helps the one or the other here on this mentioned platform to understand or to follow your trading approaches better. And this also still without costs with this platform. Following just two ideas how to organize a most simple view on this platform:
Thanks for your eagle eye @Symple
It is true that L&S has a good base for traders.
As you can see from my often posted charts (since many years) things for us traders may be fruitful.
Not pushing for one company - but saying that performance often is very dependent on the provider.
I see a lot at ' Lang und Schwartz' and 'Finanzen.net'.
Turbo's and other derivates. But I don't see any futures.
You can find RT data of the Dax future at Investing.com.
