FRANKFURT (dpa-AFX) - The agreement reached by the traffic light coalition on a federal budget for 2024 did not sit well with many investors on Wednesday. Four weeks after the historic budget ruling by the Federal Constitutional Court, the coalition government has agreed on how it intends to close the billion-euro gap in the 2024 federal budget. However, tough austerity decisions are expected to finance this.

Measures are planned that will affect consumers in terms of electricity, gas and petrol prices. Among other things, a sharper increase in the CO2 price is planned, which will have an impact on petrol and gas prices. This is also likely to affect Lufthansa with its high kerosene consumption. The airline's shares lost 2.8 percent of their value in the MDax.

The traffic light coalition also wants to cut climate protection and transformation projects worth 45 billion euros by 2027. In 2024 alone, expenditure from this pot would be reduced by 12 billion euros, it was said. Vice Chancellor Robert Habeck (Greens) spoke of a premature expiry of the demand for e-cars and painful cuts for the solar industry.

The shares of inverter manufacturer SMA Solar then slipped significantly by 9.6 percent. The shares of specialty chemicals group Merck KGaA, which also specializes in semiconductor solutions, and solar supplier Wacker Chemie were also affected. Their shares fell by up to 1.6 percent.

"That was hard but constructive work. In the end, we have a good compromise, a democratic compromise in the true sense of the word," said Federal Chancellor Olaf Scholz (SPD), summing up the days of negotiations with his Finance Minister Christian Lindner (FDP) and Habeck in a government statement to the Bundestag./tih/ngu/men