After an eventful stock market week with a significant setback the day before, the DAX made another attempt to stabilize on Friday. In early trading, the leading German index stood still at 14,729 points.
After an eventful stock market week with a significant setback the day before, the DAX made another attempt to stabilize on Friday. In early trading, the leading German index stood still at 14,729 points.
The day before, the collapse in the price of Siemens Energy shares and the associated losses in Siemens shares had unsettled investors and put a strain on the German stock market.
There were encouraging signals the evening before from the USA, where the quarterly reports from the online retailer Amazon and the chip company Intel were well received and both stocks rose sharply after trading. However, this is offset by rising yields on the US bond market. Longer-term high interest rates are likely to put pressure on demand for loans and thus also on economic growth. In addition, burdens are increasing for home buyers and other borrowers.
The MDax of medium-sized stock exchange companies virtually stood still on Friday at 23,804 points. The Eurozone leading index EuroStoxx 50 rose by 0.3 percent.
On a weekly basis, the Dax is slightly in the red, but above the lowest level since March at the start of the week at 14,630 points. The Gaza war, stubbornly high yields on US government bonds and different assessments of quarterly reports from the USA and Germany had recently weighed on the stock markets.
Investors are again looking with interest at the prices of Siemens Energy and Siemens. Siemens Energy had fallen by a good 35 percent the day before because the energy technology company was negotiating billions in guarantees for loans with the federal government. In the wake of Siemens Energy, Siemens shares also came under pressure. Siemens Energy recovered by 3.7 percent on Friday morning, Siemens was slightly up.
Covestro once again became more cautious for the current year due to the continued lack of recovery in demand. However, analysts praised the plastics company’s third-quarter profit and free operating cash flow. The share price rose by 2.4 percent.
Among the small caps, Fuchs Petrolub rose by 3.9 percent. The lubricant manufacturer benefited from price increases in the first nine months of the year. A reduced sales forecast from the financial services provider Hypoport pushed the shares down by 1.4 percent.
Source: Stern
