The stock market continued its weak start into the week on Tuesday. Weak data from Asia supports the current moderately negative attitude of investors.
Germany's leading index, the DAX, is reacting cautiously to the negative data from Asia. However, the industrial production figures published in Germany this morning are also weighing on the index. This fell by 1.4 % compared to the previous month and by 3.86 % compared to the previous year. The index is currently down around 48 points, or 0.32%, at 15,088 points. The indices in the euro area are slightly negative overall and the leading European index, the Euro Stoxx 50, is currently down around 13 points, or 0.32%, at 4,144 points.
Investor sentiment is certainly also being dampened by the Reserve Bank of Australia's decision. Last night, the Australian central bank raised the key interest rate by 25 basis points from 5.10 % to 5.35 %. The growing hope that the global cycle of interest rate hikes may have come to an end has thus been severely dampened, and the current restraint on the part of investors is further underpinned.