The Dax rose again on Friday. After the price rally of almost ten percent since the most recent low in March, the leading index initially ran out of breath below the 16,000 point mark this week. In the afternoon, however, it turned positive and finally closed 0.54 percent higher at 15,881.66 points. On a weekly basis, he has fought for an increase of almost half a percent. Before the weekend, the Dax was mainly driven by strong gains in the index heavyweight SAP and encouraging purchasing manager indices. The MDax of medium-sized stock market stocks ended up 0.02 percent lower at 27,742.32 points.
US manufacturing and services PMIs came in better than expected for April. Corporate sentiment in the euro zone had even reached its highest level in almost a year. “The eurozone economy continues to do better than expected, thanks to a booming service sector,” commented Thomas Gitzel, Chief Economist at VP Bank. In any case, the service providers could still simply shake off the high inflation rates at the moment. In contrast, the mood in industry deteriorated.