The British FTSE 100 Index has said goodbye to the correction, at least in the short term. On yesterday's trading day, it lost another 0.6 percentage points, marking a 2-week low. This was somewhat surprising, as retail data in the UK was better than expected. But as is so often the case, the unconfirmed rule that rumors are bought and the facts are sold accordingly came true yesterday. On such days, many investors tend to take profits and the buyers entering the market cannot absorb the supply to the same extent, which then leads to a supply overhang, at least in the short term, so that prices fall. Large companies in the index such as the shares of BP, AstraZeneca or Imperial Brands were the stocks that describe yesterday's sell-off. A positive outlier on the upside yesterday was the share of Centrica, which posted a price jump of 5 percent. This price jump is justified by the announcement of a share buyback program.
Weak US stock markets cause the DAX to correct further
A minus of 0.5 percent was on the display board of the German benchmark index at the end of the trading day. In day trading, it was already apparent that the momentum towards the north was gradually thinning, so there was hope on the US markets. However, these also fell on yesterday's trading day, with the result that the German leading index also had to lose feathers in the afternoon. In the outlook for the upcoming elections in the Federal Republic of Germany next Sunday, there could be distortions on the stock market on Monday if the election results create a power vacuum or turn out to be surprisingly different from what the polls show. The shares of MTU Aero Engines and Rheinmetall suffered the strongest losses of over 4 percent each, and the shares of the Mercedes Benz Group were also unable to stop the sale and lost for the second day in a row. The performance was a minus of over 2.6 percent. The market was not able to adequately absorb the 30 percent slump in profits.
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