The averted US insolvency put investors on the German stock market in a buying mood on Friday. After the House of Representatives, the Senate in Washington also approved a bill suspending the national debt ceiling in the USA for the time being. Without the move, the US government would have run out of money in a matter of days. Investors are now turning their attention to the US labor market data due in the afternoon.
The averted US insolvency put investors on the German stock market in a buying mood on Friday. After the House of Representatives, the Senate in Washington also approved a bill suspending the national debt ceiling in the USA for the time being. Without the move, the US government would have run out of money in a matter of days. Investors are now turning their attention to the US labor market data due in the afternoon.
The Dax gained 0.7 percent to 15,958.37 points. On Thursday, the leading index had recovered from its clear losses of the previous days by 1.2 percent. This indicates an almost neutral weekly balance for the Dax. The MDax of medium-sized companies rose by 1.1 percent on Friday morning to 27,037.65 points. The EuroStoxx 50 was up 0.7 percent.
The US job market report, scheduled for 2:30 p.m. Central European Time, is considered important for the US Federal Reserve’s monetary policy leeway in the fight against high inflation.
Shares in Adidas and Puma benefited from better-than-expected quarterly figures and a better outlook from US sporting goods retailer Lululemon. The Adidas papers rose by 3.4 percent as one of the favorites in the Dax and the Puma titles in the MDax by 4.2 percent. Lululemon shares soared more than 13 percent after the U.S. market closed on Thursday.
ProSiebenSat.1 shares rose 2.3 percent after Czech billionaire Renáta Kellnerová increased her stake in the media group. The PPF Group, which it controls, increased its stake, including financial instruments, to 15.04 percent.
Ceconomy shares rose by 2.3 percent. The electronics retailer wants to become more profitable by the middle of the decade. The Düsseldorf-based company wants to make significantly more sales in online trading. In addition, the stores of MediaMarkt and Saturn are to be comprehensively modernized.
Evotec shares rose 2.8 percent to their highest level since September. This means that the increase since the beginning of May has already totaled almost 40 percent. The titles reacted to the announcement that the drug researcher received funding of 1.7 million US dollars. The donor Open Philanthropy wants to advance the discovery of RNA-based therapies against henipaviruses.
Source: Stern
