The recovery rally in the Dax that started the day before ran out of breath again on Friday morning. After an increase of around 1.9 percent, the leading German index turned off at 12,587 points. By then it had already recovered by almost 5 percent from the previous day’s low of 12,000 points.
Most recently, the Dax was up around one percent on the day at 12,477 points. The MDax of medium-sized German companies also gained one percent to 22,448 points, having previously stood at 22,777 points. The leading eurozone index, the EuroStoxx 50, recently recovered by 1.2 percent.
After initially disappointing US inflation figures, the Dax had struggled to defend the round mark of 12,000 points on Thursday afternoon and was clearly in the red. A weak US trading start with lows since November 2020 in the Dow Jones and S
Real estate stocks were initially in demand across Europe on Friday, which the turnaround in interest rates has made difficult for them so far. The day before, the Stoxx Europe 600 Real Estate had seen its lowest level since 2012 after a 49 percent annual loss. At TAG Immobilien, it was even a low since 2011, from which it is now recovering. With a plus of 5 percent, they are the best in the MDax. Vonovia are among the favorites in the Dax after a previous day’s low since 2014.
Meanwhile, the leading index is led by Deutsche Bank papers, which saddled up to 3.4 percent on the previous day’s price increase of over 7 percent. At noon, the quarterly reports of the major US banks such as JPMorgan, Morgan Stanley and Citigroup are on the agenda.
Papers from Bayer, on the other hand, have to lose some feathers after a strong week. The Leverkusen team was ordered by a Washington state court to pay 275 million US dollars. Several people who attributed illnesses to contact with polychlorinated biphenyls (PCBs) at a school had complained.
Among small caps, Nordex gained 6 percent. The wind turbine manufacturer was able to significantly increase its sales prices in the third quarter.
