The US job market report increased the pressure on the German stock market on Friday afternoon. The Dax lost 1.13 percent to 12,330.00 points.
Thanks to the strong start of the week and month, it is currently still in positive territory on a weekly basis. The MDax of medium-sized companies recently fell by 1.48 percent to 22,679.51 points. The leading eurozone index, the EuroStoxx 50, fell by 1.4 percent.
The number of employees in the US rose more than expected in September. The Landesbank Hessen-Thüringen (Helaba) said that the labor market situation in the USA was still solid. According to the data, there is no reason to doubt that the US Federal Reserve will soon tighten interest rates again. Higher interest rates mean risks for the stock markets because other asset classes then become more attractive.
Technology stocks were under pressure ahead of the weekend amid renewed disappointments from AMD and Samsung. So lost three percent in the Dax Infineon. A sell recommendation from Hauck Aufhäuser Investment Banking caused Fielmann’s shares to lose around six and a half percent.
The shares of the fashion retailer Global Fashion Group (GFG), on the other hand, continued their positive trend of the previous day with a price jump of around 14 percent. One retailer welcomed the sale of the Lamoda business, which operates in Russia, Kazakhstan and Belarus, to retailer investor Iakov Panchenko.
The euro traded at $0.9747 after the US jobs data, lower than before. The European Central Bank (ECB) set the reference rate at $0.9860 on Thursday.
On the bond market, the current yield rose from 1.93 percent the day before to 2.03 percent. The Rex pension index fell by 0.42 percent to 127.96 points. The Bund future lost 0.91 percent to 137.61 points.