Price gains in the Dax on Friday did not change much about a poor weekly result. After the announcement of labor market data from the USA, it briefly looked as if the gains were becoming clearer, but prices later retreated somewhat.
Price gains in the Dax on Friday did not change much about a poor weekly result. After the announcement of labor market data from the USA, it briefly looked as if the gains were becoming clearer, but prices later retreated somewhat.
The Dax ended up at 18,001.60 points. Despite the increase of 0.59 percent, the leading German index lost 0.9 percent for the week. The MDax rose by 0.18 percent to 26,300.82 points on Friday.
The US economy created significantly fewer jobs than expected in April and the unemployment rate rose slightly. In addition, wage growth surprisingly weakened slightly. The first assumption was that this would encourage the US Federal Reserve to think about cutting interest rates more quickly. However, this was later counteracted by the ISM Purchasing Managers’ Index, which was also disappointing, with a price component that unexpectedly rose significantly.
More optimistic targets for the full year pushed Henkel shares to their highest level in more than two years. With a plus of 7.2 percent, they were at the top of the DAX. Things went better in the consumer business than expected in the first quarter, wrote RBC expert James Edwardes Jones. It is noteworthy at this point in time that the Board of Directors has increased both the sales and the margin target.
Armaments stocks such as Rheinmetall, Hensoldt and Renk, which had recently fallen after their record highs at the beginning of April, benefited on Friday with increases of between 4.7 and 7.7 percent from the fact that the private bank Hauck & Aufhäuser recommended all of the shares to be bought. “The need to defend oneself has endured throughout history and will continue to be vital in the future,” the analysts wrote.
At the end of the DAX, Daimler Truck’s shares fell by almost four percent. Analysts praised the commercial vehicle manufacturer for a strong start to the year. However, statements about difficult developments in Europe upset investors.
There were two very negative outliers in the MDax: The car rental company Sixt frightened its investors with capped annual targets, which resulted in a price slide of 12.7 percent. Aurubis fared only slightly better, at minus eleven percent, after UBS analyst Daniel Major reversed his valuation with a sell vote.
On the European stage, the EuroStoxx rose by 0.6 percent. The national stock exchanges in Paris and London also posted profits, and the British FTSE 100 even reached a record high again. In the USA, the stock markets were also in positive territory, with the Dow Jones Industrial most recently increasing by 1.2 percent. It was therefore slightly below its daily high.
According to US data, the euro temporarily climbed above the $1.08 mark. Finally, $1.0772 was paid. The European Central Bank set the reference rate at 1.0744 (Thursday: 1.0698) US dollars. The dollar therefore cost 0.9307 euros.
On the bond market, the current yield fell from 2.59 percent the day before to 2.58 percent. The Rex bond index rose by 0.08 percent to 124.10 points. The Bund future gained 0.34 percent to 131.04 points.
Source: Stern
