FRANKFURT (dpa-AFX) - The downward spiral in shares of Zalando and other consumer goods stocks did not slow on Thursday. The Zalando share price fell by 2.6 percent, making the online retailer the worst performer in the DAX index. The index fell by 0.8 percent due to uncertainty surrounding the war in the Middle East.
Zalando shares are now trading at November levels. At the beginning of June, the share price was still at the same level as at the turn of the year, but the discount for 2025 is now almost 17 percent. For days, they have been well below the 200-day average line, which is a popular indicator of the longer-term trend.
There were no specific reports that weighed on Zalando on Thursday. However, traders and analysts had recently highlighted uncertainties regarding the development of private consumption in Germany in the second half of the year and the consequences for consumer stocks.
Jefferies, for example, downgraded flavor and fragrance manufacturer Symrise on Monday due to concerns about demand for consumer goods. JPMorgan analyst Celine Pannuti said she feared weaker performance in the consumer goods sector due to economic headwinds.
These two stocks also continued their recent downward trend on Thursday, each losing around one percent. Beiersdorf is at its lowest level since January 2023 and Symrise since the end of April. Another consumer-dependent DAX stock that fell again was Adidas, with a loss of 1.3 percent. The sporting goods manufacturer's shares reached their lowest level since mid-April./tih/la/jha/
