The German stock market lacked impulses for major changes on Friday. In the afternoon, the leading index Dax fell by 0.19 percent to 15,916.45 points. The index was weighed down by price losses by car manufacturers. Over the course of the week, however, it gained 1.8 percent.
The MDax made it into the profit zone on Friday with 27,842.54 points, just 0.08 percent. The Eurozone barometer EuroStoxx increased by 0.2 percent. The US stock exchanges got off to a friendly start.
Investors were initially unable to draw any clear conclusions from the US job report, which is considered important for the interest rate policy of the US Federal Reserve. Expert Ralf Runde from Helaba judged that although the number of newly created jobs was slightly above expectations, the job market report was still disappointing due to a significant increase in the unemployment rate.
The Aurubis share made negative headlines with a price slump of 11 percent. The copper group dropped its annual forecast because it assumes that it has again become a victim of metal theft. The extent of the damage could not be determined with certainty, it said. Salzgitter, which holds around 30 percent of Aurubis, was also charged at times. However, rising prices in the steel sector compensated for this over the course of the day.
In the auto sector, concerns by analysts at Swiss bank UBS and price cuts by Tesla further clouded the already subdued mood. The US electric car manufacturer reduced the prices for models in the growth market in China, putting further pressure on the competition from Europe. Shares in Mercedes, BMW and Porsche AG lost between 2.2 and 2.9 percent.
Meanwhile, the experts at UBS fear increased competition from Chinese electric vehicle manufacturers, who could “develop into new global champions”. In their opinion, this would hit the mass manufacturer Volkswagen particularly hard: they downgraded the shares – like those of Renault – to “sell”. As a result, Volkswagen were at the bottom of the Dax with a discount of 4.5 percent.
The euro traded at $1.0866 after the US jobs report. The European Central Bank (ECB) set the reference rate at $1.0868 on Thursday.
In bond trading, the current yield fell from 2.53 percent on the previous day to 2.50 percent. The Rex pension index rose by 0.19 percent to 124.57 points. The Bund future fell by 0.07 percent to 133.07 points.
