On the German stock market, the US job market report on Friday brought only brief relief. The Dax expanded its price gains somewhat, but then quickly fell back again. In the afternoon, the leading German index was up 0.45 percent at 15,598.65 points. The MDax for medium-sized companies recently advanced by 0.76 percent to 26,910.74 points. The Eurozone leading index EuroStoxx 50 rose by 0.30 percent to 4235.89 points.
On the corporate side, the potential beneficiaries of rising interest rates were in demand with the banks. Deutsche Bank and Commerzbank were among the Dax favorites with premiums of around one percent.
BASF and Covestro gained 4 and 2.7 percent respectively – despite a profit warning from competitor Clariant. According to experts, speculators had tried to profit with short sales after similar warnings in the chemical industry. However, the bet no longer works out, so corresponding short bets are also being canceled at BASF. The shares of the Dax group had fallen significantly in the past few days.
At the end of the index, profit-taking weighed on the shares of the building materials group Heidelberg Materials by more than three percent. Analysts were already concerned about the weakness of the construction industry on Thursday. In the wake of the weak figures from the electronics group Samsung, semiconductor stocks also went down. Infineon temporarily fell to its lowest level since the beginning of June, but has recently recovered by 0.9 percent.
The euro rose, hitting $1.0908 in afternoon trade. The European Central Bank (ECB) set the reference rate at $1.0899 on Thursday afternoon.
On the bond market, the current yield rose to 2.70 percent from 2.60 percent the previous day. The Rex pension index fell by 0.41 percent to 123.14 points. The Bund future lost 0.30 percent to 130.95 points.
