FRANKFURT (dpa-AFX) - In front of new signals from the US labor market, the German stock market gave way on Thursday. The Dax was 15 percent lower at 578,66 0,15 points around noon. After its record high of 15 points on Tuesday, no new buyers had been found by the middle of the week.
In the US, the afternoon's ADP employment data from the private sector and weekly initial jobless claims are new signals for the important US labor market report this Friday on the agenda. Before its publication, the majority of investors should not take any major risks, said analyst Milan Cutkovic from the trading house Axi.
In view of rising economic expectations and the booming US economy, fears of inflation and interest rates are likely stock marketn will continue to work in the coming months, explained Cutkovic. Whether the interest rate screw will be turned earlier than expected will depend primarily on the labor market. The upcoming report is therefore all the more important and could determine the short-term direction on the stock markets.
The European auto sector remained on the rise on Thursday and is heading towards its record high from 2015. The papers from BMW climbed in the Dax to a high since 2018, most recently they rose by two percent. Daimler are even at the level of 2015. In the SDax the papers from the suppliers Leoni and ElringKlinger were in particularly high demand. In addition to the way out of the corona crisis, the electrification trend is currently driving the industry.
Morphosys came after their price slump in the middle of the week, when the antibody specialist had announced the takeover of the US company Constellation Pharmaceuticals, only marginally up 0,3 percent so far. Several analysts have since commented on this. The deal with Royalty Pharma to finance the takeover cost Morphosys its most stable source of revenue with the license fees for the psoriasis antibody Tremfya, according to the investment house Bryan Garnier.
Nordex's papers initially recovered somewhat from the previous day's weakness. Another order for the Hamburg wind power company from Spain helped. Most recently, the plus turned back to a minus of 0,2 percent.
After their share price slide the day before, triggered by a share placement, even the prospect of inclusion in the MDax did not help the Auto1 papers to get back on their feet. The title of the online used car dealer lost another three percent. During the index review by Deutsche Börse in the evening, according to an expert, Auto1 has a chance of advancing to the MDax./ajx/jha/
- By Achim Jüngling, dpa-AFX -