The Dax lost 0.16 percent at noon to 11,476.00 points. The MDax fell 0.25 percent to 24,190.87 points and on the European stage lost the main EuroStoxx 50 index 0.4 percent.
There was some nervousness before the first interim elections in the time of Donald Trump said in the market. "The president of the United States has been heavily involved in the election campaign, because the Republican camp is a lot," said fund manager Olivier de Berranger, of La Financière de L 'Echiquier.
Although Trump's party must maintain its modest majority in the Senate, it may be lost in the House of Representatives. Trump would then be heavily inhibited in his previous policy, which would mean insecurity for the market, according to Berranger. The chances of a slowdown in the trade dispute with China have increased, but at the same time the dangers of a confrontation between a Democratic House of Representatives and a Republican Senate were increasing.
If Democrats still win the majority in both houses, that would also be negative for stocks, according to Goldman Sachs. The US bank expects less tax incentives and more regulation in this case.
Focus on quarterly figures: Deutsche Post wins, Eon loses
On the corporate side, the focus of the German market was mainly on quarterly reports. At Dax, Deutsche Post shares took the lead with a further 3.2%. Although the recovery of the Austrian Post's parcel and parcel business in the summer saw a sharp drop in profits, analysts had expected a somewhat stronger recession following the announcement in June.
At the end of the index, however, Eon shares suffered less than 3.9% under a rating from Morgan Stanley. Increasing the profitability of the bond market and intensifying competition in retail banking could put the role of public utilities under pressure in the short term, fears analyst Nicholas Ashworth.
At MDax, Morphosys shares were in numbers and with a slightly more optimistic view of annual sales, up 7.4%. K + S benefited from the most optimistic outlook for competitors of fertilizer Nutrien and Mosaic all year long, up 1.9%.
Fashion companies Hugo Boss and Zalando, on the other hand, were not impressed with their annual reports. Online fashion retailer Zalando fell deeper into the red in the third quarter. Higher costs of logistics, sales and services had to be addressed and at the same time – as in Hugo Boss – the hot summer reduced demand. Zalando lost as the MDax back light a good 6 percent. Hugo Boss remained relatively stable at minus 0.2 per cent, which was attributed to a confirmed buy decision by Bank UBS in the market.
In SDax, SGL Group shares rose 11.5%. The carbon fiber specialist, who went out of the red in 2017 after a long dry spell, wants to end 2018 with a double-digit profit and a billion in revenue.
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