At the end of another strong week, the Dax rally has stalled. The leading German index was struggling and was hardly changed at 15,059.37 points early on Friday afternoon. The day before, the stock market barometer had climbed above the 15,000 mark for the first time since February 2022.
At the end of another strong week, the Dax rally has stalled. The leading German index was struggling and was hardly changed at 15,059.37 points early on Friday afternoon. The day before, the stock market barometer had climbed above the 15,000 mark for the first time since February 2022.
The MDax for medium-sized German companies rose by 0.36 percent to 28,177.13 points on Friday. The EuroStoxx 50, the leading index in the euro zone, rose by 0.2 percent.
Robust economic data supported the stock market at the end of the week. The mood on the financial markets remains friendly. The day before, the US inflation data, which had been hoped to be more moderate, had underpinned the hopes of many investors that the Fed could take things a little easier with its interest rate hikes.
In this environment, investors across Europe cashed in on shares from the automotive industry, which have performed particularly well since the beginning of the year. In the Dax, the preferred shares of Volkswagen (VW) fell by three and a half percent. One stockbroker sees price cuts by the electric pioneer Tesla as a mood dampener in order to support the recently disappointing sales in the USA and Europe. Among the best values in the Dax, Bayer’s shares continued their recent rally and rose by one and a half percent. Activist investors are currently pushing for changes at the pharmaceutical and agrochemical group.
In the MDax, the shares of the Aurubis copper group rose by almost five percent and thus benefited from a positive analyst comment. Südzucker shares extended their recent losses and fell by more than eight percent as the clear bottom of the SDax small-cap index.
The euro was last listed at 1.0795 US dollars. The European Central Bank had fixed the reference rate on Thursday at 1.0772 (Wednesday: 1.0747) dollars. The dollar thus cost 0.9283 (0.9305) euros. On the bond market, the current yield fell from 2.20 percent on the previous day to 2.11 percent. The Rex pension index rose by 0.42 percent to 126.93 points. The Bund future fell by 0.02 percent to 138.54 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.
