FRANKFURT (dpa-AFX) - After three days of losses so far this week, the DAX is still lacking a new impetus on Thursday. Broker IG calculated the leading German index a good two hours before the Xetra start 0.1 percent lower at 19,362 points. In the meantime, the Dax has closed some distance again to the 20,000-point mark, which investors had already been concerned with a week ago when it reached a record of just under 19,675 points.

According to Commerzbank, risk aversion is noticeable on the markets. The experts attribute this not only to the stock markets but also to the yields on US government bonds, which continue to rise. The markets are continuing to price in the prospect of slower interest rate cuts by the Fed, as the US economy is developing robustly. Fed representatives sounded more cautious about future interest rate cuts.

No clear impetus is coming from Wall Street, where the Dow Jones Industrial benchmark index ended trading close to its level at the close of the Dax. However, there are positive indications for technology stocks after electric car manufacturer Tesla presented convincing figures after the close of trading. The reporting season also continues in Germany with results from Symrise, Beiersdorf and MTU./tih/jha/