On the big expiry day on the futures exchanges, the Dax initially recovered a little from the sell-off of the previous day. It rose 1.20 percent to 13,195 points late Friday morning.
On the big expiry day on the futures exchanges, the Dax initially recovered a little from the sell-off of the previous day. It rose 1.20 percent to 13,195 points late Friday morning.
On a weekly basis, however, this currently means a minus of 4.1 percent, since the interim high on Whit Monday the loss for the leading German index has even totaled more than ten percent. For the time being, experts therefore do not see much more than an attempt to stabilize the downward trend.
The MDax increased by 1.74 percent on Friday to 26,201 points. The Eurozone leading index EuroStoxx 50 gained 1.2 percent.
The expiry of contracts could lead to even larger price fluctuations in the course of time. At lunchtime, the so-called fixing, the index options and futures of the EuroStoxx 50 and Stoxx 50 on the Eurex first expire, followed a little later in the midday auction by the futures and options on the Dax and the MDax.
Among the favorites in the Dax, the very weak shares of the utility Eon stabilized at plus 3.3 percent the day before. An upgrade from “neutral” to “buy” by Goldman Sachs was helpful.
Volkswagen is still at a low in sales due to problems with the chip supply and corona restrictions. In May, deliveries worldwide fell by 23.5 percent year-on-year to 658,300 vehicles. The preferred shares of the car manufacturer lagged behind the Dax on Friday with an increase of 0.5 percent. Porsche SE even fell by 0.2 percent.
Real estate values, which have recently been particularly weak due to the turnaround in interest rates, presented themselves firmly. Vonovia gained 4.4 percent among the top stocks in the Dax. Deutsche Wohnen increased in price by 7.6 percent at the top of the MDax. Grand City Properties followed with a plus of 6.8 percent, 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.
