With the weaker US stock markets, the recent euphoria in Frankfurt stock trading faded somewhat on Friday. The previous day’s hope that the European Central Bank had reached the end of its cycle of interest rate increases had another positive impact this morning. However, near the 16,000 point mark, it was over for the Dax, as strong economic data from the USA dampened the mood somewhat.
In the end, the DAX rose by 0.56 percent. 15,893.53 points give the German leading index an increase of almost one percent over the week. The MDax of medium-sized stocks fell just into the loss zone on Friday with minus 0.04 percent to 27,316.05 points.
In New York there were losses, particularly on the technology-heavy Nasdaq stock exchange. Robust economic data fueled new concerns among investors that the US Federal Reserve might raise interest rates again next week.
On the corporate side, investors took profits on real estate stocks after the interest-sensitive sector accelerated its recovery the day before in the wake of the ECB decision. The heavily loan-financed industry has been suffering for some time from a slump in the real estate market and rising construction costs. Vonovia papers lost two percent at the bottom of the DAX.
The chemical sector performed better, led by BASF with an increase of 2.5 percent. Brenntag’s shares also increased by a little more than two percent. The fact that logistics billionaire Klaus-Michael Kühne continued to buy through his holding company and now holds at least ten percent of the chemical retailer caused a lot of fantasy.
After their weakness the day before, car stocks also stabilized, led by Porsche AG with an increase of 1.9 percent. Shares from the healthcare industry were also in demand, including Fresenius, Siemens Healthineers and Sartorius, with increases of up to 1.8 percent.
This was followed in the SDax by Morphosys papers, which, after reaching a high since the beginning of 2022, limited their increase to 3.8 percent. Morphosys was overtaken by Baywa. A buy recommendation from Baader analyst Rene Rückert catapulted the agricultural retailer’s shares to the top of the SDax with a gain of 7.7 percent.
Shares in Hornbach Holding, on the other hand, suffered from lowered forecasts for the financial year. In the end the discount was 2.3 percent.
The EuroStoxx 50 claimed an increase of 0.36 percent to 4295.05 points. There were also gains for the respective leading indices in Paris and London. In New York, the Dow Jones Industrial fell by half a percent and the Nasdaq 100 even fell by a good 1.5 percent.
The euro recovered somewhat from its half-year low at $1.0672. The European Central Bank set the reference rate at 1.0658 (Thursday: 1.0730) dollars. The dollar therefore cost 0.9382 euros.
The current yield on the German bond market remained at 2.68 percent. The Rex bond index fell by 0.04 percent to 123.40 points. The Bund future lost 0.64 percent to 130.25 points.
