The latest development in the German stock market indicates a change in direction: The DAX has once again slipped downward, falling on Thursday below the significant threshold of 18,000 points. With a loss of 0.5 percent at midday, the German leading index stood at 17,989 points. The DAX had recently experienced a remarkable recovery, rising from a low of 17,626 points to a high of 18,567 points. However, hopes for a continuation of the upswing were dashed when no further momentum was recorded at the 21-day moving average the previous day. The MDAX, the index for mid-sized companies, also experienced a slight setback with a decline of 0.2 percent, standing at 26,285 points. The EuroStoxx 50, the European benchmark index, likewise lost 0.4 percent. The current earnings season, which is just picking up speed, will become the determining factor. Among others, numerous German companies are presenting their quarterly figures – from the DAX, for example, BASF, Deutsche Bank, and Symrise. The latter particularly suffered from expectations set by competitor Givaudan, recording a price plunge of up to 6 percent, which was halted only at the 200-day line. Meanwhile, Deutsche Bank's securities had to accept a loss of 2.6 percent. Despite a rise in profits promising the best results since 2013, the previous upward trend weakened. For BASF, the day was relatively calm, as they hovered around the previous day's level. Despite a decline in revenue at the start of the year, the chemical giant exceeded forecasts and gave analysts confidence. In the MDAX, Befesa suffered significant share price losses. The company's stocks plummeted by ten percent, reaching the lowest level since November after future prospects disappointed investors. On the flip side, Delivery Hero delighted with an increase of eleven percent. With additional revenue, the delivery service is hoping for even faster growth. Hellofresh also found favor with investors. Despite weaker demand for cooking boxes, a balance with the offering of ready-made meals was achieved.