The Dax started the second half of the year with a moderate ups and downs. It went out of trading with a small plus of 0.23 percent to 12,813.03 points, but is still counted. His weekly balance is minus 2.3 percent.
The Dax started the second half of the year with a moderate ups and downs. It went out of trading with a small plus of 0.23 percent to 12,813.03 points, but is still counted. His weekly balance is minus 2.3 percent.
“The Dax fell by more than 2000 points in June alone, a historic negative record,” commented market analyst Jochen Stanzl from CMC Markets. Investors have not experienced such a minus of eleven percent in a June month since the German benchmark index was launched in 1988. The half-year balance was also sobering with a loss of almost 20 percent and the 13,000-point mark has now again become a difficult hurdle to overcome. Concerns about inflation and recession, together with the uncertainties in view of the lack of gas in Germany, have left deep scars.
The MDax of medium-sized stocks stabilized on Friday with a plus of 0.05 percent to 25,837.25 points. The Eurozone leading index EuroStoxx 50 lost 0.19 percent to 3448.31 points, in Paris there were moderate gains. London’s stock exchange closed close to the previous day’s close. In the USA, the stock exchanges were recently slightly negative before a weekend that was extended due to the holiday.
The inflation data from the euro zone published in the morning hardly shocked, even if another record level was reached. Consumer prices rose 8.6 percent year-on-year in June, slightly more than experts had expected. “Recession concerns have a firm grip on the financial markets,” said Commerzbank. The high inflation rates and comments from various central bankers in favor of a tighter monetary policy kept expectations of interest rate hikes high and at the same time aroused concerns about the economy.
After their course debacle the day before, when Uniper had dragged the industry down with a call for help to the federal government and a cashed-in earnings forecast, utilities embarked on a recovery course. Uniper shares made up for part of their previous day’s losses and rose by 10.3 percent. The papers of RWE and Eon were also not able to completely iron out their losses from Thursday, but at least largely recovered with plus 5.3 percent for RWE and plus 2.4 percent for Eon.
Meanwhile, weakness in the technology sector continued. Infineon lost 3.5 percent in the Dax and Aixtron in the MDax 6.2 percent. A gloomy outlook from the US semiconductor manufacturer Micron weighed.
Bilfinger shares gained 4.2 percent in the SDax and benefited from a study by Deutsche Bank. This started the evaluation of the papers of the industrial service provider with “Buy”. After its restructuring, Bilfinger is about to enter a new phase of growth, it said. Outside the Dax family, the Tui papers in Xetra trading rose by 3.1 percent. Statements from Europe’s largest travel group on the summer business and the reduction of unused credit lines have now given impetus. The day before, they had fallen to a record low.
The euro was trading at $1.0417 early in the evening. The European Central Bank previously set the reference rate at 1.0425 (Thursday: 1.0387) dollars. The dollar thus cost 0.9592 (0.9627) euros. On the bond market, the current yield fell from 1.32 percent on the previous day to 1.28 percent. The Rex pension index rose by 0.20 percent to 133.49 points. The Bund future recently gained 1.32 percent to 150.72 points.
