With economic data in focus, the Dax quickly gave up its initial gains on Friday and posted losses around noon. A strong US technology sector the day before only helped briefly. The leading German index was last at 15,753.49 points and a discount of 0.30 percent. On a weekly basis, the Dax is down 0.8 percent, while an increase of 0.8 percent is emerging for April. With May, a month that is traditionally rather weak on the stock markets is just around the corner. The MDax of medium-sized stocks recently fell by 0.23 percent to 27,544.32 points. The Eurozone leading index EuroStoxx 50 fell by 0.8 percent.
In the morning, data on economic growth in Germany had shown a weak start to 2023. Gross domestic product (GDP) stagnated in the first quarter compared to the previous quarter. Bank economists, on the other hand, had expected economic output to grow by 0.2 percent.
Investors on the German market evaluated further quarterly reports, including the final figures from Covestro. According to a trader, the outlook for the plastics group gives confidence, especially after the somewhat more difficult outlook for BASF. Covestro gained five percent. Deutsche Telekom shares were down 1.8 percent under the impact of the quarterly figures from subsidiary T-Mobile US.
ProSiebenSat.1 drastically cuts the dividend. The share price then fell by more than 17 percent in the MDax. The papers of the lubricant manufacturer Fuchs Petrolub fell by three and a half percent according to quarterly figures. The shares of the dialysis group Fresenius Medical Care (FMC), meanwhile, benefited from an upgrade by Deutsche Bank with a plus of 1.8 percent.
Varta fell by 8.7 percent in the SDax of the smaller values, after a forecast lowered by the battery company. Only the shares of the biofuel manufacturer Verbio got worse with a minus of a good twelve percent.
