Entertainment DAX posts shaky profits

12:21  26 august  2020
12:21  26 august  2020 Source:   finanzen.net

DAX goes up and down the floor - close of trading in the red

 DAX goes up and down the floor - close of trading in the red After a roller coaster ride, investors put on the brakes on Thursday on the German stock market. © Provided by Finanz.net GmbH YASUYOSHI CHIBA / AFP / Getty Images The DAX is only 0.03 percent higher in the session at 12,664.55 points. After a brief sharp rise in the morning, the leading German index slipped into the red. The stock market barometer tried again and again to at least reach the zero line - without success. At the end of trading, the DAX lost 0.54 percent to 12,591.68 points.

Post . Deutsche Lufthansa AG shares, which have been trading near their lowest level in four years, are at risk of dropping out of Germany’s benchmark DAX Index as the airline battles low-cost competitors, labor unions and a shaky credit rating.

The DAX has posted sharp losses on Wednesday. Currently, the DAX is at 11,619, down 1.43% on the day. In economic news, German PPI declined Asian and European markets are down, as investors have engaged in profit taking and squaring positions ahead of the Federal Reserve statement.

On Wednesday the DAX made some gains in the meantime.

TANNEN MAURY/AFP/Getty Images © Provided by Finanz.net TANNEN MAURY / AFP / Getty Images

The DAX started the trading day 0.15 percent lower at 13,041.83 points. In the meantime, however, the leading German index has moved into green territory and gained 0.31 percent to 13,101.50 points. In the short term, however, it went back to zero.

The focus of investors is already on the high-ranking annual central bank meeting starting on Thursday, which is taking place online for the first time due to the corona pandemic. According to experts, US Federal Reserve Chairman Jerome Powell could announce important changes in the Fed's catalog of targets.

"Many remain cautious about Jerome Powell's speech tomorrow," wrote analyst Thomas Altmann of wealth manager QC Partners. It is expected that the Fed will no longer aim for a specific inflation rate, but rather an average value. From today's perspective, this would result in an even longer phase of extremely low US interest rates and possibly even more securities purchases by the Fed. US interest rates are a key factor influencing events on the global financial markets.Redaktion finanzen.net / dpa-AFX

Covestro shares give wings: Apollo is probably considering bid for DAX group Covestro - Covestro rejects .
The plastics group Covestro has apparently been targeted by financial investor Apollo Global Management. © Provided by Finanz.net DANIEL ROLAND / AFP / Getty Images But a deal may not work: A company spokesman said on Friday morning on request that the DAX company is currently not in takeover discussions with the New York private company Equity house. However, this did not affect the takeover fantasies on the stock exchange.

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