10:05 p.m. – Renewed bank worries weigh on US stock exchanges
The banking crisis in the USA is not over yet and this is causing unrest on the stock markets. The Dow Jones ended 0.9 percent lower. The Nasdaq fell 0.5 percent. The regional bank Western Alliance is considering selling the entire money house or parts of the institute, reports the “Financial Times”, citing insiders. The bank itself has denied this. Nevertheless, their shares fell by almost 40 percent. PacWest had previously stated that it was looking for options in discussions with investors. Apparently in order not to have to be rescued. PacWest shares fell 50 percent.
5:50 p.m. – Market report: Qiagen, BMW, Deutsche Boerse AG and others
Among the DAX stocks, 18 stock corporations are up and 22 are down. The overview of the status at 5:50 p.m.:
The companies Qiagen, BMW, Deutsche Börse AG and Bayer are currently the winners, with price gains of 3 percent (Qiagen), 2.2 percent each (BMW and Deutsche Börse AG) and 1.9 percent (Bayer).
Things are going the worst for Mercedes-Benz Group (-7.2 percent), Zalando (-6.8 percent) and Commerzbank (-3.3 percent).
💡 We obtain price data from the Munich Stock Exchange (gettex), which we use with the help of automated data processing convert to text. Last status of the data is 5.50 p.m., the development is calculated since shortly before 6 p.m. of the last trading day. For the accuracy of the information we take no responsibility.
5.45 p.m. – DAX closes slightly in the red after the ECB interest rate decision
The DAX closed at 15,734 points. That means a minus of half a percent. The interest rate hike by the European Central Bank by a quarter of a percentage point did not surprise investors. At the end of trading, the DAX was even able to reduce its losses. Here, investors have focused in particular on the quarterly reports presented by some companies. The online fashion retailer Zalando reduced its loss in the first quarter. Nevertheless, investors remain skeptical. Zalando shares fell 7 percent. The shares of Mercedes Benz gave way to 7.5 percent – but that corresponds exactly to the dividend deduction. The laboratory outfitter Qiagen was able to convince with its quarterly balance sheet. Qiagen shares advanced 3.5 percent. In New York, the Dow Jones is more than 1 percent behind. The Nasdaq fell 0.3 percent. The euro is at 1.10 dollars.
4.32pm – Concerns about the US banking sector are growing again
Regional bank PacWest is discussing strategic options with investors. Apparently she wants to avoid the fate of the First Republic, which went to JP Morgan in an emergency sale, and other institutions caught up by the US supervisory authorities. PacWest shares are now down 57 percent. Western Alliance stocks are also down more than 40 percent, Keycorp is down almost 10 percent and Valley National is down around 7 percent. The Dow Jones loses 1.1 percent. The euro stands at 1.1022 dollars.
3:45 p.m. – Wall Street starts with losses
One day after the US Federal Reserve’s interest rate decision, losses are still being recorded on the New York stock exchanges today. The Dow Jones Index loses 0.7 percent a quarter of an hour after the start of trading, the Nasdaq on the technology exchange loses 0.6 percent. In Germany, the DAX posted a minus of 0.7 percent to 15,697 points. The euro has fallen to 1.10 16 dollars.
2:18 p.m. – ECB raises key interest rate but takes its foot off the gas
With the seventh interest rate hike in a row, the European Central Bank is bracing itself against persistently high inflation. However, the step is smaller than the previous rate hikes. The Council of the European Central Bank decided to raise key interest rates in the euro area by 0.25 percentage points. Previously, there had been three hikes of 0.50 percentage points. The key interest rate, at which commercial banks can get fresh money from the ECB, has now risen to 3.75 percent. The interest rate on deposits, which is paid when banks park money with the ECB, has thus increased to 3.25 percent interest, the central bank announced in Frankfurt.
The DAX remains in the red and is now losing 0.5 percent to 15,738 points. The euro is slightly lighter at $1.1020.
1:18 p.m. – Profit taking ahead of ECB decision
The European Central Bank will announce its interest rate decision in the early afternoon. It is expected to raise the key interest rate again. On the markets one speculates mostly with a moderate plus of 25 basis points. With this, the ECB wants to fight the persistently high inflation in the euro area. It had recently even increased slightly: from 6.9 percent in March to seven percent in April. On the stock markets, interest rate hikes are not so well received. Because other forms of investment such as time deposits or call money become more attractive, the demand for shares then usually weakens somewhat. And so in the run-up to the interest rate decision, caution can be felt on the German stock markets. Investors cash in. The DAX lost 0.8 percent to 15,691 points. The euro is benefiting from higher interest rates and is trading at $1.1064.
11.15 a.m. – Uniper with billions in profit
The nationalized utility Uniper made an unexpectedly high profit in the first quarter. In the first quarter, he earned 6.7 billion euros in the gas and electricity business. This was possible because gas prices have fallen significantly. As a result, no more losses were incurred because the company had to buy more expensively to meet old obligations, emphasized CFO Jutta Dönges. In the current year, there should be no further burdens from the past. Uniper does not need any additional money from the federal government, which was fully involved last year.
9.15 a.m. – DAX in the red before the ECB meeting
Infineon presented good figures. For the fiscal year, the chip manufacturer expects sales of over 16 billion euros. The profit should also be higher. Nevertheless, the share loses 2.4 percent at the start of trading to EUR 32.50. The biggest loser is Mercedes Benz with minus 6.7 percent. But that’s just an arithmetic loss, because the carmaker is trading today with a dividend discount.
In the run-up to the ECB meeting, stock markets are trending lower. The DAX starts 0.7 percent lower at 15,697 points.
8:15 a.m. – Good numbers from Infineon and Volkswagen
The Munich chip giant Infineon publishes good numbers. In the current fiscal year – which ends in September for Infineon – sales are expected to increase by 14 percent to a good 16 billion euros. Profits should also increase significantly.
The VW Group also publishes very good figures. He is benefiting from the recovery of the markets in Europe and the USA, which more than offset the decline in sales in China. In the first quarter, the Wolfsburg company earned 7.1 billion euros from operations. That is an increase of 31 percent. Sales rose by a fifth to 76 billion.
The DAX is expected to be little changed at yesterday’s final level of 15,815 points.
6:15 am – US stocks weaker, China stocks firmer
The New York stock exchanges closed with smaller losses after the interest rate decision. Dow Jones and NASDAQ fell up to 0.8 percent. The fact that the FED has at least hinted at an interest rate pause is seen as positive.
The financial markets and companies have to digest ten increases in a row, some of them massive. An example is the regional banks in the USA, which have gotten into enormous difficulties.
In Asia, stock markets in China are firm. The Hong Kong Hangseng index gains about one percent.
The Tokyo Stock Exchange is closed.