The Dax climbed over the hurdle of 16,000 points on Friday with thin trading volumes. At times, the leading German index rose just below its highest level since the end of August at just over 16,040 points. It reached its record high at the end of July at just under 16,530 units.
The Dax climbed over the hurdle of 16,000 points on Friday with thin trading volumes. At times, the leading German index rose just below its highest level since the end of August at just over 16,040 points. It reached its record high at the end of July at just under 16,530 units.
A slight boost came from Wall Street on Friday. There, the Dow Jones rose moderately after the Thanksgiving holiday on Thursday.
The DAX went out of trading with a premium of 0.22 percent to 16,029.49 points. The weekly profit is 0.7 percent. Since the recovery rally began at the end of October, the increase is now 9 percent. The profit over the course of the year amounts to 15 percent. “All in all, it was a quiet but successful week,” commented market analyst Konstantin Oldenburger from CMC Markets.
The MDax of medium-sized companies rose by 0.43 percent to 26,214.45 points. Gains were also recorded across Europe: the Eurozone leading index EuroStoxx 50 advanced by 0.25 percent to 4372.10 points.
The Ifo business climate had little influence on trading, although the mood in the German economy improved for the third month in a row in November. However, experts had expected a clearer improvement in sentiment.
Speculation about potential buyers for Wintershall Dea gave impetus to the recently stalled recovery of BASF shares. It rose by 1.8 percent, making it one of the top values in the leading index. As the Bloomberg news agency reported on Thursday evening, both the Arab oil company Adnoc and the British oil company Harbor Energy are interested in the Ludwigshafen-based oil and gas subsidiary.
Covestro shares also benefited and rose by 2.2 percent. Adnoc, which is controlled by Abu Dhabi, has been interested in this chemical and plastics company for some time. Covestro confirmed talks in September. Since then there has been largely radio silence.
The euro cost $1.0932 in the early evening. The European Central Bank set the reference rate at $1.0916. On the bond market, the current yield rose from 2.6 percent the day before to 2.66 percent. The Rex bond index fell by 0.13 percent to 123.87 points. The Bund future recently fell by 0.21 percent to 130.32 points.
Source: Stern
