The Dax has paid a little tribute to its recent recovery rally. At the end of trading, the leading German index lost 0.22 percent to 16,105.07 points – although it was not able to save its short-term gains, it remained above its daily low.
In addition, his weekly balance of plus 3.2 percent is stronger than it has been since the end of March. The MDax of medium-sized stocks ultimately fell by 0.49 percent to 27,860.29 points.
The positive development on the US stock markets proved to be a price support: While the New York leading index Dow Jones Industrial gained 0.4 percent at the European stock exchange close, the technology-heavy Nasdaq 100 rose by 0.7 percent.
This also helped the Eurozone leading index EuroStoxx 50, which ended the weekend 0.2 percent firmer. The French Cac 40 also ended up slightly higher, while the British FTSE 100 fell marginally.
After recovering from the previous downturn, experts on the Dax now consider further gains to be likely. “The chance of new records is again higher than the risk of a stronger correction,” believes capital market strategist Jürgen Molnar from the trading house Robomarkets. Above the interim high of around 16,200 points, “the path to a new all-time high would probably only be a matter of time,” agrees analyst Jochen Stanzl from the trading house CM Markets.
The fading enthusiasm about the quarterly figures of the US banks JPMorgan, Citigroup and Wells Fargo was also noticeable among their Dax industry colleagues on Friday: while Deutsche Bank only claimed a price gain of 0.2 percent at the end of trading, Commerzbank was about 1, 7 percent downhill.
Dax taillight was Brenntag with a discount of 3.2 percent. JPMorgan sees the chemicals trader within the industry particularly badly affected by the gloomy business prospects and therefore downgraded the shares.
In contrast, Fresenius and Fresenius Medical Care (FMC) were among the better values in the Dax and MDax, respectively, with gains of 0.6 and 0.4 percent respectively. The restructuring of the Fresenius healthcare group is entering the next stage. At an extraordinary general meeting in Frankfurt, the shareholders of the dialysis subsidiary approved the conversion from a limited partnership to a stock corporation. The decision was almost unanimous.
The change in legal form means that Fresenius FMC will in future only report its share of around one third as a financial investment. So far, FMC had been fully taken into account. This had proven to be a burden for Fresenius in the past, as FMC struggled with numerous problems and also burdened the parent company with profit warnings.
Dealers rated a media report as negative for the car sector, according to which Mercedes-Benz is observing a price war for electric cars in the important sales market of China. The price losses of Mercedes-Benz, Volkswagen and BMW were limited at up to 0.6 percent.
In the MDax, Telefonica Deutschland benefited from a positive study by Morgan Stanley with a plus of 1.3 percent. Sixt shares, on the other hand, lost 5.4 percent as the weakest index value after Deutsche Bank canceled its buy recommendation for the car rental company.
On the foreign exchange market, the soaring euro lost some of its momentum. The common currency was last seen at $1.1239 after temporarily climbing to its highest level since February 2022. The European Central Bank (ECB) had previously set the reference rate at $1.1221.
On the bond market, the current yield fell from 2.55 percent the previous day to 2.54 percent. The Rex pension index rose by 0.06 percent to 124.32 points. The Bund future lost 0.38 percent to 132.68 points.
