Investors in the German stock market remained cautious ahead of the weekend. Concerns about the economy continue to shape the picture. The Dax fell by 0.27 percent to 15,953.50 points in the first few minutes of trading on Friday.
Investors in the German stock market remained cautious ahead of the weekend. Concerns about the economy continue to shape the picture. The Dax fell by 0.27 percent to 15,953.50 points in the first few minutes of trading on Friday.
The MDax of medium-sized listed companies fell by 0.16 percent to 28,287.98 points and the Eurozone leading index EuroStoxx 50 lost almost half a percent.
The day before, the Dax had initially risen to 16,060 points, but then turned around. Rising bond yields would have taken the momentum out of stocks, Commerzbank said.
Uncertainty remains with regard to monetary policy and its consequences for the economy: will the economy land gently or will the sharp rise in key interest rates in the USA and the euro zone lead to a major setback?
Added to this is the ongoing crisis in the Chinese real estate market, whose boom over many years has ensured brisk demand from numerous construction, metal and chemical companies.
The stock markets are correspondingly restrained. After the good run of the Dax in the past few months, many investors do not want to take any new risks for the time being.
In addition, investors continue to process the quarterly reporting season of companies. The results and the prospects paint a mixed picture. After the peak of the reporting season on the previous day, some laggards followed on Friday.
Varta shares led the SDax with an increase of 4.6 percent. After weak business recently, the troubled battery manufacturer is planning a noticeable increase in sales for the coming year. On the other hand, among the biggest losers in the small cap index were the shares of the retail group Metro, which had performed worse than expected in the past quarter. The strong euro cost growth. Metro shares then fell by 2.6 percent.
In the Dax, however, the shares of Hannover Re weakened a little after two strong trading days with minus two percent. The day before, they had set course for the record high of EUR 206.80 at the beginning of June, but did not reach it.
Source: Stern
