Sunday, June 7, 2020

Investors disappointed with dispute in the EU

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NAfter two strong trading days, investors on the German stock market came back on the brakes. The finance ministers of the European Union were unable to agree on a € 500 billion corona aid package on Wednesday after 16 hours of negotiations. Instead, they adjourned to Thursday. That burdened the courses.

At the close, the Dax declined 0.2 percent to 10,332 points. However, he limited previous higher losses thanks to good guidelines from the American stock exchanges. The leading German index had recovered by almost nine percent in the past two days. The M-Dax of the medium-sized market stocks rose by 0.7 percent to 21,704 points on Wednesday.

Investors are still watching the spread of the corona virus and the economic consequences. “There is light at the end of the tunnel in New York, but other parts of the United States are under threat,” said equity strategist Simon Powell of the American bank Jefferies.

DAX ®: current price and news – FAZ.NET

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In an expert report presented on Wednesday, leading economic research institutes expect the German gross domestic product to plunge by 4.2 percent this year. Economic output is expected to shrink particularly strongly in the second quarter by 9.8 percent. Then it should slowly go up again. The “economic practices” had previously assumed in a special report that the economy would decline by 2.8 percent in 2020.

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