DAX Lowest Turnover in Five Weeks

The German stock market started with losses in the second half of the year. The leading German index DAX closed 0.4 percent on Wednesday at 12,260.57 points.
The second half of 2020 did not really want to start. At the start of trading, a technical malfunction brought Xetra trading on the German stock exchange to a standstill for around three hours. After that, the negative US stock exchanges in particular pushed the DAX down.

The extreme first half of the stock market ended for the leading German index and was marked by the corona pandemic on Tuesday. The balance for the first six months of the year is negative: the minus amounted to 7.1 percent. In the second quarter, however, the stock market barometer recorded a whopping plus of almost 24 percent. In June there was a plus of six percent on the course list. “The Dax has never fallen so rapidly and has risen almost as quickly,” stated analyst Jochen Stanzl from the CMC Markets trading company.

Investors are currently unable to find a precise direction and are torn between fear of a second wave of corona and hope that the economic recovery will continue. The best value in the DAX was the Henkel share on Wednesday with a good 1.5 percent increase.

Worst value in the stock market barometer: Wirecard. There was still turbulence on Wednesday. At least for parts of the payment processor involved in a balance sheet scandal, there are interested parties. Numerous investors from all over the world have already registered, said provisional insolvency administrator Michael Jaffé. The day before, the Wirecard share soared to over nine euros. On Wednesday the share closes with more than 16 percent in the minus at 4.81 euros.

Wirecard before dismantling – new searches
The Dax group Wirecard, which is involved in a billion dollar scandal, is expected to be dismantled and sold. The provisional insolvency administrator Michael Jaffé announced on Wednesday night that “numerous prospective customers worldwide had already registered for the acquisition of business areas”. In search of evidence for the allegedly fictitious bogus shops in the Middle East and Southeast Asia, dozens of prosecutors, police officers and computer specialists searched Wednesday through five buildings in Germany and Austria, including the Wirecard headquarters in the Munich suburb of Aschheim for the second time within a month.

 

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