As a result of an unfavorable forecast by the wind turbine manufacturer Siemens Energy, the Dax slipped a little on Thursday. The leading German index lost 1,01 percent to 15.629,66 points. The MDax of the 60 medium-sized stock market values lost 0,70 percent to 34.533,42 points.
Siemens Gamesa and then the majority shareholder and Dax company Siemens Energy cut their profit forecasts. Both stocks fell as a result, and Siemens shares also came under pressure.
Due to the high burdens from a revaluation of wind power projects, Siemens Gamesa is only expecting a black zero for the operating result in the current fiscal year. According to Goldman Sachs, analysts, on the other hand, expected an average profit of a good 350 million euros.
This is also reflected in Siemens Energy, which holds a good two-thirds of the shares in Siemens Gamesa. The parent company has canceled the annual profitability target. While the shares of Siemens Gamesa on the Madrid stock exchange fell by a good 14 percent, Siemens Energy in Frankfurt plummeted by more than eleven percent. Siemens in turn holds around 40 percent of Siemens Energy, the shares in Munich lost 2,5 percent.
The news also worried investors in other renewable energy companies. The course of the Gamesa competitor Nordex slipped in the MDax by almost 5 percent and that of the wind farm investor Encavis by as much as 6,2 percent. RWE lost 2,1 percent in the Dax and the shares of the solar system manufacturer SMA lost 6,5 percent. Eon shares were able to escape the troubled environment in the energy sector, which rose by 1,1 percent at the top of the Dax.
There were only a few price winners in the German leading index on Thursday. Even the Daimler share fell slightly despite the strong quarterly figures of the Stuttgart company. Brokers justified this on the one hand with the good run of the papers since the strong key data of the counterparty VW. They also complained that Daimler hadn't said anything new about the rest of the year.
Among the small caps, Drägerwerk shares in the SDax fell by 4,2 percent. The manufacturer of medical and security technology performed unexpectedly poorly in terms of operating earnings in the second quarter. The shares of Pfeiffer Vacuum did better, following a buy recommendation from the investment bank Kepler Cheuvreux, they advanced by 5,4 percent.
Across Europe, the courses went down. The leading Eurozone index EuroStoxx 50 fell by 1,05 percent to 4056,39 points. The French benchmark index Cac 40 and the London FTSE 100 were similarly weak. In New York, the Dow Jones Industrial was slightly up at the close of trading here.
The rate of the euro fell significantly from the daily high of 1,1850 US dollars, most recently the common currency cost 1,1810 dollars. The European Central Bank (ECB) had previously set the reference rate at $ 1,1809.
The prices of German government bonds rose. While the Rex bond index rose 0,19 percent to 145,64 points, the current yield fell accordingly from minus 0,37 percent to minus 0,41 percent. The Bund future rose by 0,09 percent to 174,61 points in the evening.