Before the weekend, concerns about high inflation are once again putting pressure on the Dax. Around noon, the leading German index lost 0.40 percent to 13,641.94 points after an even clearer minus in the meantime. The MDax of medium-sized companies fell on Friday by 0.93 percent to 27,274.05 points. The Eurozone leading index EuroStoxx 50 was 0.3 percent lower.
Before the weekend, concerns about high inflation are once again putting pressure on the Dax. Around noon, the leading German index lost 0.40 percent to 13,641.94 points after an even clearer minus in the meantime. The MDax of medium-sized companies fell on Friday by 0.93 percent to 27,274.05 points. The Eurozone leading index EuroStoxx 50 was 0.3 percent lower.
High inflation and concerns about rising interest rates remain one of the main negative factors for the stock market. This fear was fueled in the morning by producer prices in Germany, which rose much more sharply than expected. They climbed at record speed.
Economically sensitive values from the tourism, automotive and banking sectors lost the most on the market on Friday. Investors fear that rapidly rising interest rates will stall the economy and lead to a recession. Real estate values were also weak once again, higher interest rates are making it more expensive to finance apartments, and demand can suffer as a result.
In the lower places in the Dax, Deutsche Bank lost 2.8 percent, Mercedes-Benz fell by two percent and the shares of the real estate group Vonovia by 1.8 percent. Lufthansa was four percent lower in the MDax. Bank of America recommends underweighting cyclical sectors such as banks and automobiles in particular.
Delivery Hero and Hellofresh were pulled by very sharp gains in Just Eat Takeaway, after the company announced it would sell its stake in Brazilian food delivery service iFood to Prosus for up to €1.8 billion. Delivery Hero gained two percent as the best MDax value, Hellofresh rose by 2.6 percent at the top of the Dax.
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.
