After its stable performance the day before, the German stock market went into reverse on Friday. The DAX lost 0.61 percent to 18,572.32 points in the morning. This suggests a weekly loss for the leading index.
The MDax of medium-sized stocks fell by 0.66 percent to 27,014.13 points on Friday morning. The EuroStoxx 50, the leading barometer of the euro zone, fell by around 0.8 percent.
The indications from overseas stock markets are negative. In the USA, surprisingly robust economic data the day before had further increased interest rate concerns. There were also losses in Asia. Fears that US key interest rates may remain high for a longer period are also clouding the picture here.
Economic data from Germany had little impact before the market opened. Gross domestic product (GDP) – supported by exports and increased construction investments – grew by 0.2 percent in the first quarter compared to the previous quarter. This confirmed preliminary figures from the Federal Statistical Office.
Source: Stern
