The start of the new trading week was not successful for German stocks. The main index of the Frankfurt Stock Exchange fell 3.7 percent, with shares of Europe‘s most valuable technology company SAP literally falling.
SAP shares lost nearly 22 percent of their value in Monday trading. The announcement that the company will recover from coronavirus shock for significantly longer than originally expected is to blame. Shareholders are also likely to be keen on a dividend, as SAP has significantly worsened the medium-term outlook for its profitability. SAP has thus experienced its worst trading day in 24 years.
SAP was thus the main culprit in the relatively sharp decline of the Frankfurt Stock Exchange‘s DAX index, which lost 3.7 percent. He’s at his four-month low. The pan-European STOXX 600 stock index also fell less than two percent, while the STOXX50E index, which includes the eurozone’s best titles, fell nearly three percent. In addition to the dismal results of selected companies for the third quarter behind the decline in European exchanges, there is an increase in newly confirmed cases of coronavirus infection. Especially in France and Spain. This is causing growing investor jitters.