DE40: DAX falls to the lowest levels since February

12:52 5 August 2024
  • DAX loses 3%
  • Defensive sectors record smaller declines 
  • 10-year bond yields fall near 2.1%
  • United Internet lowers forecasts for 2024. 

Record declines in Asian indices have caused strong declines in European markets. Strengthened fears of a recession in the US are causing capital to shift to safer assets, resulting in declines in bond yields combined with strong discounts in equity indices.

The German market is no different, with the main DAX index losing 3% today and falling below 17,200 points for the first time since February this year. Since the beginning of this month, the index has already lost almost 8%.All major sectors are losing on the German stock market today. Defensive sectors such as food and beverages remain the best performers, although they too are seeing discounts.

Start investing today or test a free demo

Open account Try demo Download mobile app Download mobile app

All 40 companies on the DAX are losing during today's session, although defensive companies such as Siemens Healthineers and Henkel see the smallest declines at around 0.4%.

German 10-year bond yields fell around 2.1% for the first time since early January this year.

Germany's services PMI index reading came in above expectations at 52.5 points (vs. 52 points forecast). The index continues to hover above 50 points, but July's reading marks a continuation of the index's declines and the lowest levels since May of this year. 

Today's session on European markets is marked by strong discounts. All major European indices are losing more than 2.5%. Source: xStation

The worst performing sector on the German stock market is the discretionary goods sector recording a decline of more than 4%. Industrial (-3%) and financial (-3.3%) companies are also doing poorly. Healthcare is recording the smallest declines with a nearly -1.6% discount. Source: Bloomberg Finance L.P.

All 40 companies in the DAX index are down today. Zalando (-8.3%) and Siemens Energy (-6.8%) are the worst performers. Source: Bloomberg Finance L.P. 

The contract for the German DAX index (DE40) is losing more than 3.6% today. It's falling to the levels of the consolidation from February this year. Support set by that month's minima is established at 16945 points, and previous psychological support is at 17,000 points. The contract has been experiencing a dynamic discount for the past three sessions, erasing nearly completely the increases from the first half of the year. The market's negative sentiment may be reinforced by the opening of the US stock market, which also promises strong declines in this environment. Source: xStation 

Company news:  

  • United Internet (UTDI.DE) is trading down nearly 18% today. The company lowered its forecast for 2024, projecting revenues of €6.4 billion (vs. €6.5 billion previously) and EBITDA of €1.38 billion (vs. €1.42 billion previously). In the first half of the year, the company's EBITDA was affected by increased spending on mobile network expansion, which rose to €111 million (vs. €40.8 million a year earlier). The company's stock price tumbled to its lowest level since March of this year.
  • Infineon Technologies (IFX.DE) has released its results for 3Q23/24. The company reported a slight improvement in sales on a q/q basis (+2%) reaching €3.7 billion. It also managed to improve its gross margin, which stood at 42.2% on an adjusted level (vs. 41.1% in the previous quarter). At the adjusted diluted earnings per share level, the company achieved €0.43 (vs. €0.42 a quarter earlier). Given the weak demand for integrated circuits from the industry, the semiconductor conglomerate missed its sales target by about €100 million and expects full-year revenue to also be about the same amount at about €15 billion. Infineon shares are losing 2.2% and holding up relatively well compared to the technology sector. Profit estimates for Infineon for 2024 and 2025 have already been revised downward due to the events of recent weeks and months. Following the results presentation, analysts do not expect further major revisions for the time being.
  • Airbus (AIR.DE) announced that it has received an order from the French Space Agency CNES for two next-generation microwave radiometers. The order will be part of France's contribution to the Atmospheric Observing System (AOS) as part of international cooperation with the US or Canada, among others. The system will provide space-based and suborbital observation of the links between aerosols, clouds, atmospheric convection and precipitation. Airbus will build the microwave radiometers in France, and when completed they will be mounted on two AOS satellites.





 

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

Back

Join over 1 Million investors from around the world

We use cookies

By clicking “Accept All”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

This group contains cookies that are necessary for our websites to work. They take part in functionalities like language preferences, traffic distribution or keeping user session. They cannot be disabled.

Cookie name
Description
SERVERID
userBranchSymbol Expiration date 17 October 2024
adobe_unique_id Expiration date 16 October 2025
test_cookie Expiration date 1 March 2024
SESSID Expiration date 9 September 2022
__hssc Expiration date 16 October 2024
__cf_bm Expiration date 16 October 2024
intercom-id-iojaybix Expiration date 13 July 2025
intercom-session-iojaybix Expiration date 23 October 2024
xtbCookiesSettings Expiration date 16 October 2025
xtbLanguageSettings Expiration date 16 October 2025
TS5b68a4e1027
countryIsoCode
userPreviousBranchSymbol Expiration date 16 October 2025
TS5b68a4e1027
_cfuvid
intercom-device-id-iojaybix Expiration date 13 July 2025
__cfruid
__cf_bm Expiration date 16 October 2024
__cf_bm Expiration date 16 October 2024
_cfuvid
adobe_unique_id Expiration date 16 October 2025
TS5b68a4e1027
_cfuvid
xtbCookiesSettings Expiration date 16 October 2025
SERVERID
TS5b68a4e1027
__hssc Expiration date 16 October 2024
test_cookie Expiration date 1 March 2024
intercom-id-iojaybix Expiration date 13 July 2025
intercom-session-iojaybix Expiration date 23 October 2024
intercom-device-id-iojaybix Expiration date 13 July 2025
UserMatchHistory Expiration date 31 March 2024
__cf_bm Expiration date 16 October 2024
__cf_bm Expiration date 16 October 2024
__cf_bm Expiration date 16 October 2024

We use tools that let us analyze the usage of our page. Such data lets us improve the user experience of our web service.

Cookie name
Description
_gid Expiration date 9 September 2022
_gat_UA-22576382-1 Expiration date 8 September 2022
_gat_UA-121192761-1 Expiration date 8 September 2022
_ga_CBPL72L2EC Expiration date 16 October 2026
_ga Expiration date 16 October 2026
AnalyticsSyncHistory Expiration date 8 October 2022
af_id Expiration date 31 March 2025
afUserId Expiration date 1 March 2026
af_id Expiration date 1 March 2026
AF_SYNC Expiration date 8 March 2024
__hstc Expiration date 14 April 2025
__hssrc
_vwo_uuid_v2 Expiration date 17 October 2025
_ga_TC79BEJ20L Expiration date 16 October 2026
_vwo_uuid Expiration date 16 October 2025
_vwo_ds Expiration date 15 November 2024
_vwo_sn Expiration date 16 October 2024
_vis_opt_s Expiration date 24 January 2025
_vis_opt_test_cookie
_ga Expiration date 16 October 2026
_ga_CBPL72L2EC Expiration date 16 October 2026
__hstc Expiration date 14 April 2025
__hssrc
_ga_TC79BEJ20L Expiration date 16 October 2026
af_id Expiration date 31 March 2025
afUserId Expiration date 1 March 2026
af_id Expiration date 1 March 2026
AF_SYNC Expiration date 8 March 2024
_gcl_au Expiration date 14 January 2025
AnalyticsSyncHistory Expiration date 31 March 2024
_gcl_au Expiration date 14 January 2025

This group of cookies is used to show you ads of topics that you are interested in. It also lets us monitor our marketing activities, it helps to measure the performance of our ads.

Cookie name
Description
MUID Expiration date 10 November 2025
_omappvp Expiration date 28 September 2035
_omappvs Expiration date 16 October 2024
_uetsid Expiration date 17 October 2024
_uetvid Expiration date 10 November 2025
_fbp Expiration date 14 January 2025
fr Expiration date 7 December 2022
muc_ads Expiration date 16 October 2026
lang
_ttp Expiration date 10 November 2025
_tt_enable_cookie Expiration date 10 November 2025
_ttp Expiration date 10 November 2025
hubspotutk Expiration date 14 April 2025
YSC
VISITOR_INFO1_LIVE Expiration date 14 April 2025
hubspotutk Expiration date 14 April 2025
_uetsid Expiration date 17 October 2024
_uetvid Expiration date 10 November 2025
_ttp Expiration date 10 November 2025
MUID Expiration date 10 November 2025
_fbp Expiration date 14 January 2025
_tt_enable_cookie Expiration date 10 November 2025
_ttp Expiration date 10 November 2025
li_sugr Expiration date 30 May 2024
guest_id_marketing Expiration date 16 October 2026
guest_id_ads Expiration date 16 October 2026
guest_id Expiration date 16 October 2026
MSPTC Expiration date 10 November 2025
IDE Expiration date 10 November 2025
VISITOR_PRIVACY_METADATA Expiration date 14 April 2025
guest_id_marketing Expiration date 16 October 2026
guest_id_ads Expiration date 16 October 2026
guest_id Expiration date 16 October 2026
muc_ads Expiration date 16 October 2026
MSPTC Expiration date 10 November 2025
IDE Expiration date 10 November 2025

Cookies from this group store your preferences you gave while using the site, so that they will already be here when you visit the page after some time.

Cookie name
Description
personalization_id Expiration date 16 October 2026
UserMatchHistory Expiration date 8 October 2022
bcookie Expiration date 16 October 2025
lidc Expiration date 17 October 2024
lang
bscookie Expiration date 8 September 2023
li_gc Expiration date 14 April 2025
bcookie Expiration date 16 October 2025
lidc Expiration date 17 October 2024
bscookie Expiration date 1 March 2025
li_gc Expiration date 14 April 2025
personalization_id Expiration date 16 October 2026

This page uses cookies. Cookies are files stored in your browser and are used by most websites to help personalise your web experience. For more information see our Privacy Policy You can manage cookies by clicking "Settings". If you agree to our use of cookies, click "Accept all".

Change region and language
Language