After reaching to a record high, the German stocks have changed little. The chemical companies experienced gain, whereas, the bank stocks went down. The benchmark stock gauge DAX Index retreated less than 0.1% and the same is currently at 8,452,67. In 2013, the gauge has jumped ahead by 11%, mainly being helped by the decision of the central banks from all over the world to maintain the monetary stimulus. On the other hand, the broader HDAX Index experienced a decline of less than 0.1% on today. As mentioned by the Co-Founder and Fund Manager of Clairinvest, Ion-Marc Valahu, the markets are currently taking a breather; however, most likely, the dips will be bought.
The 2nd biggest lender of Germany, Commerzbank AG, has experienced a decline of 3.9%. This marks the biggest loss for any company listed on the benchmark index. Each share of Commerzbank currently costs 8.17 Euros. The 3rd biggest luxury car maker in the world, Daimler, experienced a loss of 2.1% and each share is currently priced at 49.32 Euros. This is the first time in the last 7 days, when the company saw its shares falling down. On the other hand, the biggest automaker in Europe, Volkswagen AG saw its shares sliding down by 1.6%. Each share of Volkswagen costs 171.05 Euros now.
The renowned maker of agricultural chemicals and drugs, Bayer AG added 0.6% and each share costs 84.61 Euros now. The experimental riociguat pill from Bayer AG for treating hypertension produced positive data after a patient-2 trial was conducted and this news helped the shares of the company.
JPMorgan Chase downgraded the shares of Deutsche Bank from overweight to neutral and as a result, it went down by 2.8%, thereby taking each share price to 36.49 Euros. According to analysts of JPMorgan, as the regulations of Basel Committee are tighter now, the capital levels of the lender will be threatened.
Experiencing its biggest decline since December, United Internet AG retreated 7.5%, taking price of each of its share to 21.51 Euros. The renowned broadband provider reported figures for its first-quarter sales of 630 million Euros, less than forecasted 635 million Euros.
The biggest chemical maker in the world, BASF SE went ahead by 1.8%. On the other hand, the 4th largest producer of polysilicon in the world, Wacker Chemie AG surged ahead by 8%.