The Dax said goodbye to the weekend on Friday with price losses. Inflation and interest rate concerns have the markets in their grip.
The Dax said goodbye to the weekend on Friday with price losses. Inflation and interest rate concerns have the markets in their grip.
The minus for the leading German index was 0.42 percent at 15,425.12 points. The weekly balance is plus 2.2 percent. The MDax of medium-sized stocks fell by 0.37 percent on Friday to 33,403.54 points.
The prospect of sharp hikes in key interest rates in the USA following the surprisingly sharp rise in consumer prices is weighing on the stock exchanges. High inflation in the United States is driving yields on the capital markets higher and higher. This makes it more expensive for companies to refinance, with correspondingly negative consequences for profitability.
After the sell-off the previous day, the Delivery Hero papers were followed by the next slide on Friday. Apparently, more and more investors are losing confidence in the prospects of the food delivery service. With a minus of 11.8 percent, it went down to 41 euros. In two trading days, the titles have lost almost 39 percent, accelerating the downward slide that has been ongoing since mid-November. A weak outlook had sobered investors the day before.
With a price increase of 6.7 percent, the shares of Mercedes-Benz at the top of the Dax reacted to the announcement of the first business figures for 2021. The car manufacturer is developing in an impressive manner, according to Goldman Sachs.
The papers of the used car dealer Auto1 fell to another record low and closed 6.2 percent weaker. Experts believe that the company is on the right track operationally, but have criticized several share placements by existing shareholders in recent months.
Carl Zeiss Meditec shares lost 3.3 percent. A dealer called the profitability of the manufacturer of medical technology in the first business quarter “a disaster”. The numbers clearly missed expectations, the supply chains are still a problem for the company.
Aurubis, on the other hand, climbed to a record high and ended up gaining 4.4 percent. The copper group is profiting from the current boom in raw materials.
The Eurozone leading index EuroStoxx 50 fell by 1.00 percent to 4155.23 points. The Paris Stock Exchange also closed weakly. The discount was moderate on the trading floor in London. In New York, the leading index Dow Jones Industrial was slightly higher at the European close, but the technology sector continued to fall.
After the market closed, the euro was 1.14 US dollars. The European Central Bank (ECB) had fixed the reference rate in the afternoon at 1.1417 (Thursday: 1.1439) dollars, the dollar thus cost 0.8759 (0.8742) euros.
On the bond market, the current yield rose from 0.12 percent on the previous day to 0.15 percent. The Rex pension index fell by 0.11 percent to 141.05 points. The Bund future gained 0.20 percent to 164.75 points.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
