The Dax hardly moved from the spot on Friday. “As long as investors don’t know whether the US Federal Reserve will at least take a break in its interest rate hike cycle or not, they’ll just take a break on the stock market,” commented capital market strategist Jürgen Molnar from RoboMarkets on the recent lack of movement on the German stock market.
The Dax hardly moved from the spot on Friday. “As long as investors don’t know whether the US Federal Reserve will at least take a break in its interest rate hike cycle or not, they’ll just take a break on the stock market,” commented capital market strategist Jürgen Molnar from RoboMarkets on the recent lack of movement on the German stock market.
At lunchtime, the leading German index fell 0.11 percent to 15,972.50 points, which means that the focus remains on the round mark of 16,000 points. In the course of the week, the Dax is currently posting a loss of around half a percent. The MDax was almost unchanged on Friday afternoon with a plus of 0.02 percent to 27,188.19 points. The EuroStoxx 50 was also treading water.
Chemical stocks suffered from a profit warning from Croda, which analysis firm Bernstein says “all major businesses share some responsibility for.” The British specialty chemicals group’s weak outlook is fueling concern across the industry. As the weakest shares in the leading index, Symrise lost around four percent, BASF and Brenntag a little more than two percent and Bayer one and a half percent. Evonik, K+S and Wacker Chemie were also very weak in the MDax.
The focus was also on the two SDax companies Auto1 and Shop Apotheke. A positive outlook from US used-car platform Carvana pushed Auto1 shares higher on Friday after rising the previous day.
The papers of the shop pharmacy lost five percent. The British bank HSBC commented negatively on the mail-order pharmacy’s papers and downgraded them from “Hold” to “Reduce”.
Source: Stern
