Before the weekend, concerns about high inflation once again put pressure on the Dax. The moderate price recovery from the previous day proved to be a flash in the pan. In the afternoon, the leading German index lost 0.59 percent to 13,616.48 points after an even clearer minus in the meantime. This is currently showing a weekly loss of 1.3 percent. The MDax of medium-sized companies fell by 0.91 percent on Friday to 27,278.93 points. The Eurozone leading index EuroStoxx 50 was 0.6 percent lower.
Before the weekend, concerns about high inflation once again put pressure on the Dax. The moderate price recovery from the previous day proved to be a flash in the pan. In the afternoon, the leading German index lost 0.59 percent to 13,616.48 points after an even clearer minus in the meantime. This is currently showing a weekly loss of 1.3 percent. The MDax of medium-sized companies fell by 0.91 percent on Friday to 27,278.93 points. The Eurozone leading index EuroStoxx 50 was 0.6 percent lower.
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 2.4 percent, Mercedes-Benz fell by 2.3 percent and the shares of the real estate group Vonovia by 1.8 percent. Lufthansa was 3.6 percent lower in the MDax.
Meanwhile, Delivery Hero and Hellofresh were buoyed by 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. As the best MDax value, Delivery Hero gained 2.3 percent, and Hellofresh rose by 1.6 percent at the top of the Dax.
The stocks of the financial service provider Hypoport fell by 14 percent in the SDax small-cap index. Bankhaus Metzler canceled the “hold” vote and now advises selling.
The euro continued to come under pressure. At $1.0052, the common currency once again approached parity with the dollar, i.e. a one-to-one exchange rate. Dollar parity was last reached in mid-July. The European Central Bank set the reference rate at $1.0178 on Thursday.
On the bond market, the current yield rose from 1.01 percent on the previous day to 1.08 percent. In contrast, the Rex pension index fell by 0.25 percent to 134.37 points. The Bund future fell by 1.06 percent to 152.06 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.
