After an eventful week on the German stock market, calm returned on Friday afternoon. The Gaza war, stubbornly high yields on US government bonds and quarterly reports from the USA and Germany had recently weighed on prices. In addition, there was price turbulence at the energy technology group Siemens Energy on Thursday.
The Dax closed on Friday with a loss of 0.30 percent at 14,687.41 points. On a weekly basis, the German leading index has recorded a loss of around 0.8 percent, after marking the lowest level since March at 14,630 points at the start of the week. The MDax of medium-sized stock exchange companies moved little on Friday and ended trading with a decline of 0.10 percent at 23,772.02 points.
The other leading European stock exchanges recorded more significant sales. The EuroStoxx 50 lost 0.87 percent to 4014.36 points. France’s Cac 40 fell 1.4 percent and Britain’s FTSE 100 slipped 0.9 percent. In New York, the Dow Jones Industrial lost 0.5 percent at the close of European trading.
Investors once again looked at Siemens Energy’s prices with interest. The shares had fallen by a good 35 percent the day before because the energy technology company was negotiating billions in guarantees for loans with the federal government. On Friday, Siemens Energy shares recovered at the top of the DAX and gained 9 percent.
After initial gains, Covestro’s shares turned negative and ultimately lost 3.4 percent as the bottom of the DAX. The plastics company is once again becoming more cautious for the current year due to a lack of demand recovery. The focus remains, above all, on discussions about a takeover by the Arab oil company Adnoc. Here the investors’ imagination faded somewhat.
Among the small caps, Secunet shares were particularly negative, falling to their lowest level since April 2020 and a price drop of more than 28 percent. The IT security service provider reduced its profit target for 2023 due to higher costs and a lower share of sales from profitable licenses.
On the foreign exchange market, the euro recently rose to 1.0592 US dollars. The central bank set the reference rate at $1.0541 in the afternoon.
In German bond trading, the current yield fell from 2.87 percent the day before to 2.81 percent. The Rex bond index rose by 0.31 percent to 123.61 points. The Bund future lost 0.02 percent to 128.69 points.
