Before an eagerly awaited speech by US Federal Reserve Chairman Jerome Powell, the German stock market has to wait and see. The Dax lost initial gains on Friday and fell by 0.33 percent to 13,228.77 points by midday. On a weekly basis, there are indications of a minus of more than 2 percent.
Before an eagerly awaited speech by US Federal Reserve Chairman Jerome Powell, the German stock market has to wait and see. The Dax lost initial gains on Friday and fell by 0.33 percent to 13,228.77 points by midday. On a weekly basis, there are indications of a minus of more than 2 percent.
The MDax of medium-sized companies fell by 0.15 percent on Friday to 26,030.94 points. The Eurozone leading index EuroStoxx 50 lost 0.2 percent.
The chief monetary guardian of the USA will speak in the afternoon European time as part of the central bank symposium in Jackson Hole in the US state of Wyoming. However, the experts at Bank Credit Suisse expect that the statements will remain non-binding with regard to the short-term monetary policy course. Powell is likely to emphasize a need for economic data to play a role in further rate hikes to combat high inflation.
Among the individual stocks in Germany, Continental shares stood out negatively and fell by 1.6 percent among the weakest stocks in the Dax. A skeptical study by Bankhaus Metzler weighed heavily on this. The shares of other auto suppliers were also under pressure. The papers of the former Conti subsidiary Vitesco lost almost two percent, while Schaeffler’s shares fell by almost one percent.
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.
