Frankfurt has entertained high hopes of replacing London as Europe’s financial centre after Brexit, but you wouldn’t think so considering the recent performance of its main stock-market index.
The was actually a little higher in morning trading today, up 1.16% at 11,417.80, but the longer-term trend has been firmly downwards.
During the last month, the index has fallen from 12,339.0303 on 1 October to 11,287.3896 on 30 October.
Corporate worries depress stocks
It started the most recent three-month period at 12,805.50 on 31 July, and a year ago stood at 13,465.5098 on 1 November 2017.
Corporate woes explain some of the decline. Disappointing results from Germany’s flag-carrier Beiersdorf, that own Nivea and La Prairie, another DAX constituent.did little to bolster investor confidence, and it was a similar story at cosmetics company
But hanging over it all are the problems of , once a symbol of German financial might to rival the once-powerful reserve institution, the Bundesbank, is now subordinate to eurozone institutions.
Deutsches’s shares have fallen by almost 20% in the last six months, and the third-quarter results last week were disappointing.
Persistent rumours suggest Deutsche will merge with fellow German giant , but these have been denied.