Standstill before the highlight of the week is the motto on the German stock market on Friday morning.
Standstill before the highlight of the week is the motto on the German stock market on Friday morning.
In the early afternoon, the US Department of Labor released the August Employment Report. Observers are hoping to draw conclusions about the point in time when the Fed will tighten the reins of monetary policy again. Quite a few market players then expect headwinds for the global stock exchanges.
The Dax was in early trading with 0.06 percent moderately in the red at 15,831 points. The feeders had already switched to waiting mode the day before. The DAX is also showing signs of stagnation on a weekly basis. The record high of 16,030 points in mid-August was recently too high a hurdle. The MDax of the 60 medium-sized stock market values was also barely moved with minus 0.09 percent to 36,242 points.
“Job growth, wage developments and the unemployment rate will paint the picture of a recovering labor market,” wrote economist Ralf Umlauf from Landesbank Helaba, referring to the labor market data from the USA. A positive surprise is unlikely to be expected, especially since a report on employment in the US private sector was disappointing on Wednesday. “That calls for caution,” said the expert. Speculation about the Fed tightening the monetary reins could be dampened.
In addition to the US data, the restructuring of the Dax indices could also cause movement, which will be cemented in the evening. Then Deutsche Börse announces the candidates for the enlarged Dax, the reduced MDax and the SDax.
Online delivery service Delivery Hero is raising more than a billion for growth by issuing convertible bonds. With the papers convertible into shares, the number of shares could increase, which caused the price to fall by 2.2 percent at the end of the Dax table.
According to a media report, the Dax group Covestro wants to cut up to 1,700 jobs worldwide. A company spokeswoman described the number on request as an internal estimate in the course of the ongoing adjustment of the corporate structures. The price of the plastics manufacturer rose by 0.3 percent. MTU has recovered somewhat from the losses of the past few weeks with a premium of 1.3 percent.
In the MDax, the Varta papers were in last place with a discount of two percent. The Metzler bank advised selling the battery manufacturer’s shares.
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.
