The low for the year so far is 12,438 points.
(Photo: Bloomberg Creative/Getty Images [M])
Dusseldorf Profit-taking on the German stock market on Thursday after recent significant increases. In the afternoon, the Dax is around one percent down at 14,298 points. The biggest losers in the leading index include car stocks such as VW, Mercedes-Benz, BMW and Continental as well as financial stocks such as Deutsche Bank and Deutsche Börse. The day before, these papers were still particularly in demand.
Traders attribute this to a statement by the Russian government that a report by the Financial Times on Wednesday about major progress in Ukraine talks was broadly inaccurate. Only some elements are correct. The hope for diplomatic progress in the talks gave the Dax a significant boost on Wednesday.
In addition, the Kiel Institute for the World Economy (IfW) has halved its already subdued growth forecast for 2022. The economists only expect growth of 2.1 percent for the German economy in the current year.
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