The Dax continued its recovery from the previous day on Friday. The leading German index rose by 0.80 percent to 15,445.34 points by midday. On a weekly basis, the stock market barometer is still in the red.
The MDax of medium-sized stocks rose by 1.77 percent to 26,174.03 points on Friday. The Eurozone leading index EuroStoxx 50 gained 0.83 percent.
At the end of the week, encouraging price data provided a boost. Inflation in France unexpectedly weakened in September. Inflation in the Eurozone fell more sharply than expected. However, the European Central Bank’s medium-term inflation target of two percent is still clearly exceeded.
Other topics on the stock market included Commerzbank’s new dividend policy and Nike’s annual report, which caused significant price increases.
Commerzbank shares climbed eleven percent to their highest level since the beginning of August. For the financial years 2022 to 2024, a total of three billion euros will be distributed to shareholders through dividends and share buybacks. In principle, the bank aims to distribute more than 50 percent of its profits in the years 2025 to 2027, after deducting interest payments for certain bonds and minority shares.
Nike’s quarterly report found Adidas (plus 5.8 percent) and Puma (plus 6.2 percent) profiting on the German market. Met margin expectations, the outlook for the second quarter and full year as well as progress in inventories also sent positive earnings signals for Adidas and Puma, wrote expert James Grzinic from the analysis house Jefferies.
Synlab’s shares rose by 21 percent to 9.86 euros, putting them at the top of the SDax small cap index. The financial investor and major shareholder Cinven wants to completely take over Europe’s largest laboratory service provider for 10 euros per share. There is no minimum acceptance threshold. The day before, Synlab shares had fallen to their lowest level since mid-March – just at the time when Cinven’s takeover interest was first reported.
