Given the ongoing tensions between China and the US over Taiwan, investors continue to drive with the handbrake on and on sight. The leading index Dax fell in early trading by 0.12 percent to 13,432.65 points.
US House Speaker Nancy Pelosi continues her visit to Taiwan despite warnings from China. Pelosi is expected to meet with Taiwan's President Tsai Ing-wen and parliamentarians from the island's democratic republic. China had threatened consequences if Pelosi visited.
The MDax for medium-sized companies increased by 0.71 percent to 27,574.11 points. In contrast, the leading eurozone index, the EuroStoxx 50, showed a slight increase.
Weak quarterly reports from BMW and Siemens Healthineers also caused disillusionment among investors. While BMW shares fell by 5 percent and Mercedes-Benz and Volkswagen also pulled down, Siemens Healthineers even lost 7.6 percent. A significant drop in profits in the third fiscal quarter did not go down well here.
At BMW, analyst Philippe Houchois from the US Bank Jefferies criticized the shortened forecast for the free cash flow in 2022. BMW had cut this from at least 12 billion to at least 10 billion euros.
Vonovia's shares, on the other hand, rose by 2.8 percent. Investors were pleased that the real estate group is likely to make billion-dollar sales in the coming years. Infineon wants to be more profitable in the current financial year, which investors acknowledged with a price increase of 2 percent.
In the second row, Teamviewer shares lost 8.1 percent and Commerzbank 1.3 percent. The software provider is becoming more cautious about growth. Analyst Anke Reingen from Bank RBC commented on Commerzbank that the money house had placed the achievement of annual targets under the premise of an economic environment that did not deteriorate any further. However, possible gas rationing threatened this premise.
In the third row came the quarterly reports from Shop Apotheke and steel trader Klöckner