The recent interest rate optimism also supported the German stock market on Friday and gave it a significant weekly gain. The DAX closed 0.84 percent higher on Friday at 15,919.16 points. On a weekly basis, this results in an increase of 4.5 percent for the German leading index. The MDax of medium-sized companies gained 1.21 percent to 26,283.89 points on Friday and almost 4 percent in the past week.
Milder inflation data from the USA in particular recently provided a boost. According to the Landesbank Hessen-Thüringen, declining inflation in the United States and recently lower oil prices have dampened interest rate concerns in the market. Ultimately, market participants assumed that the US Federal Reserve had reached the interest rate plateau and that the next step would be a cut. This also applies to the European Central Bank.
The other leading European stock exchanges also went up. The EuroStoxx 50 rose by 0.9 percent. Prices also rose in Paris and London. The US leading index Dow Jones Industrial, on the other hand, was hardly changed at the European market close.
At the top of the DAX, the recovery rally in the shares of the ailing energy technology group Siemens Energy continued with an increase of 7.6 percent. They continued to benefit from the latest breakthrough in the struggle for financial guarantees from the federal government.
Infineon shares fell by 1.1 percent. Negative news for the semiconductor sector came from the USA, among others. According to a media report, there are supposed to be investigations against the chip company Applied Materials for allegedly violating export restrictions to China.
In the MDax, the shares of the food delivery service Delivery Hero continued their recent rally and rose by 2.1 percent. Analyst Andrew Ross from the investment bank Barclays pointed out that the Chinese delivery giant Meituan is examining a takeover of Delivery Hero’s Southeast Asia business, according to the Bloomberg news agency.
The euro last cost 1.0876 US dollars. The European Central Bank set the reference rate at $1.0872 in the afternoon.
On the German bond market, the current yield fell from 2.64 percent the day before to 2.54 percent. The Rex bond index rose by 0.36 percent to 124.55 points. The Bund future fell by 0.11 percent to 130.94 points.
