At the end of another turbulent week, strong US stock markets gave the Dax a tailwind. In the US, for example, new home sales had risen sharply after the recent setbacks, which lifted investor sentiment somewhat.
At the end of another turbulent week, strong US stock markets gave the Dax a tailwind. In the US, for example, new home sales had risen sharply after the recent setbacks, which lifted investor sentiment somewhat.
After a final spurt, the leading German index rose by 1.59 percent to 13,118.13 points, almost making up for the weekly losses. The MDax increased by 1.71 percent on Friday to 26,952.04 points. The German stock market coped well with weak mood data from the German economy and a profit warning from Zalando.
The Ifo business climate index, which clouded over more than forecast in June, contributed to the economic concerns on Friday. The companies are particularly worried about electricity prices and the threat of gas shortages.
Shares in the healthcare sector in particular contributed to the recovery of the Dax. With Merck KGaA, Siemens Healthineers, Sartorius, Qiagen and Fresenius, five titles were among the 15 biggest winners. Merck KGaA was at the top of the Dax with a plus of 5.6 percent. Evotec shares were the frontrunners in the MDax with a plus of 5.8 percent.
The Zalando share experienced a roller coaster ride in the course of trading. After drastically reducing the annual targets of the online fashion retailer, the papers fell by up to 18 percent and thus to their lowest level in almost eight years. Stocks from the fashion and online industries were also initially affected by the news. In the afternoon, however, Zalando shares recovered and were only down 1.6 percent.
Deutsche Post shares, on the other hand, rose by 2.6 percent. They benefited from the annual report of US competitor Fedex. This achieved significantly more sales in the most recent financial quarter and the operating profit also increased.
At the European level, the recovery was even stronger. The leading index EuroStoxx 50 climbed 2.8 percent to 3533.17 points. In Paris, the Cac 40 was up 3.2 percent, while in London the FTSE 100 was up 2.7 percent. In New York, the Dow Jones Industrial was last up 2.2 percent.
The euro rate rose. The common currency was trading at $1.0550 at the Dax close. The European Central Bank had set the reference rate on Friday at 1.0524 (Thursday: 1.0493) dollars.
The current yield on the bond market remained at 1.36 percent. The Rex pension index rose slightly by 0.04 percent to 133.11 points. The Bund future rose slightly by 0.12 percent to 147.82 points.
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.
