The German stock market went down moderately on Friday. The US technology exchange Nasdaq, which was weak the previous evening, and disappointing quarterly reports from SAP and Sartorius provided negative impetus. The Dax lost 0.37 percent in the afternoon to 16,144.20 points.
The MDax with the 50 medium-sized listed companies fell on Friday by 0.53 percent to 28,082.68 points. In contrast, the EuroStoxx 50, the stock market barometer for the heavyweights in the eurozone, rose by 0.1 percent.
Investors didn’t like sluggish growth in the promising cloud business and lower annual targets from SAP. The shares of Europe’s largest software manufacturer dropped by 3.6 percent as the Dax tail light. A surprisingly weak quarterly report also weighed on the shares of the pharmaceutical and laboratory equipment manufacturer Sartorius. After the annual targets lowered in June, meager numbers had already been expected. By the afternoon, the papers lost 1.4 percent.
Salzgitter shares fell in the SDax at minus 3.8 percent to their lowest level since the beginning of the year. They had already reacted weakly to key data for the first half of the year on Thursday afternoon. Vitesco jumped to a record high of over 80 euros at times, but recently fell by 2.7 percent. The takeover of Software AG by the investor Silver Lake means that the automotive supplier’s shares will be included in the MDax on Tuesday. The Darmstadt software company is removed from the MDax.
The euro was last listed at 1.1123 US dollars. The European Central Bank (ECB) had set the reference rate at 1.1197 US dollars the previous day. On the bond market, the current yield rose to 2.54 percent from 2.50 percent the previous day. The Rex pension index fell by 0.23 percent to 124.36 points. The Bund future gained 0.27 percent to 133.32 points.
