On the Friday before the Pentecost weekend, the German stock market still lacked fresh impetus. The focus remains on the dispute over an urgently needed increase in the US debt ceiling. The Dax gave up its initial gains and was last listed at minus 0.07 percent to 15,782.72 points. Important support levels have held so far after the price slide in the middle of the week.
On the Friday before the Pentecost weekend, the German stock market still lacked fresh impetus. The focus remains on the dispute over an urgently needed increase in the US debt ceiling. The Dax gave up its initial gains and was last listed at minus 0.07 percent to 15,782.72 points. Important support levels have held so far after the price slide in the middle of the week.
The MDax of medium-sized companies fell by 0.1 percent on Friday to 26,760.21 points. The EuroStoxx 50 was 0.1 percent higher.
Just a week ago, the Dax had reached a record high of 16,331 points, but is currently down three percent on a weekly basis. The US debt dispute is causing uncertainty, even though there are now positive signs of a solution. It remains to be seen whether an agreement will actually be reached, wrote analyst Chrisian Henke from Borker IG. Statements in this direction were only recently celebrated on the financial markets, and “the hangover mood” followed promptly.
The television group ProSiebenSat.1, which slipped into the red at the beginning of the year due to the persistently weak TV advertising business, is in sight on quarterly figures on Friday. ProSiebenSat.1 recently lost 0.9 percent.
Analyst comments caused movement. For the papers of the wind power group Nordex, for example, things went up by three percent. A buy recommendation from Societe Generale gave wings. A recommendation from Hauck Aufhäuser Investment Banking also helped the shares of the IT consultant and cloud specialist GFT Technologies to rise again with plus 3.4 percent.
However, Südzucker increased its high losses from the previous day by 5.2 percent. Oddo BHF had downgraded the titles.
Source: Stern
