The Dax initially held the mark of 13,000 points in early trading on Friday. However, this is currently nothing more than a cautious stabilization after the renewed wave of sell-offs on the previous day. Most recently, the leading German index was hardly changed at 13,039 points.
The Dax initially held the mark of 13,000 points in early trading on Friday. However, this is currently nothing more than a cautious stabilization after the renewed wave of sell-offs on the previous day. Most recently, the leading German index was hardly changed at 13,039 points.
The MDax was also listed little changed at 26,730 points. The Eurozone leading index EuroStoxx 50 gained 0.1 percent.
High inflation and rising interest rates remain the dominant themes, fueling fears of a recession among investors. The surprisingly significant increase in interest rates in Switzerland had weighed heavily on prices the day before.
The cutbacks in gas supplies from Russia are also playing an increasingly important role. The scenario of a Russian gas supply stop now seems more and more likely and is leaving its mark on the Frankfurt trading floor, wrote analyst Jochen Stanzl from CMC Markets. It could trigger an immediate recession in Germany. Even the final sell-off in the Dax has not yet taken place for Stanzl.
The expiry of contracts on the futures exchanges could bring larger fluctuations on Friday. Economic data is also expected during the course of the day, which will provide indications of the consequences of extremely high inflation and rising interest rates on the economy. This is also crucial for the central banks’ further leeway in their tightening of monetary policy.
Among the favorites in the Dax, the shares of the utility Eon, which were very weak the day before, stabilized at plus 1.7 percent. An upgrade from “neutral” to “buy” by Goldman Sachs was helpful.
Real estate values, which have recently been particularly weak due to the turnaround in interest rates, presented themselves firmly. Grand City Properties gained 5.7 percent at the top of the MDax, boosted by a buy recommendation from Societe Generale. Just the day before, Grand City had hit its lowest level since early 2015.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
