DE30 in fear of hawkish central banks

12:33 PM 29 August 2022
  • DE30 continues Friday's declines

  • Hawkish central banks

The first trading session in Europe this week brings a continuation of downward pressure on equity benchmarks. The reason for this scale of the sell-off is, of course, the continued reaction to Jerome Powell's speech in Jackson Hole on Friday, in which the Fed chief admonished firm central bank policy. No less is happening at the ECB, whose representatives have advocated more hikes. 

DE30 index chart, D1 interval. Benchmark German blue chips are trying to erase some of the losses from the beginning of the day. Source: xStation 5

News: 

Among the company sectors in the DAX index, the real estate sector is the best performer. Powerful declines are being recorded by Bayer (BAYN.DE) knocking the entire Health Care sector down.

  • Shares of Porsche SE (PAH3.DE) are gaining during today's session thanks to expectations for the Porsche AG IPO

  • Technology stocks are under pressure today, with Infineon (IFX.DE) shares losing nearly 4% today. 

  • Wind farm developers such as Encavis (ECV.DE) and PNE (PNE3.DE) are posting losses today. There are rumors in the media about the introduction of an excess profits tax for speculators of high energy prices. 

The largest percentage changes of companies included in the DAX index. Source: Bloomberg

The most active stocks in the DAX index (DE30). Source: Bloomberg

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