Frankfurt / Main (dpa) – A slight recovery on the US technology exchange gave the German stock market positive impetus on Friday. The Dax significantly reduced its daily losses in late trading.
However, the deteriorating sentiment in the German economy continued to weigh on investor sentiment. The leading German index went out of trading with minus 0.67 percent to 15,531.69 points. On a weekly basis, the stock market barometer lost 0.6 percent.
At times, the Dax had increased its losses around midday in the wake of the expiry of the index options and futures on the futures exchanges. After finally dropping to just over 15,400 points, he managed to recover somewhat.
The MDax of the medium-sized stock market stocks closed after a rollercoaster ride with minus 0.04 percent to 34,460.77 points, almost unchanged. The leading Eurozone index EuroStoxx 50 lost 0.96 percent to 4161.35 points. The Paris benchmark index closed in a similarly weak manner, while London posted low gains. In the US, the Dow Jones Industrial was weak at the close of European trading. The Nasdaq stock exchanges initially showed slight gains, but recently slipped back into the red.
As the Ifo business climate for December made visible this Friday, the current corona wave is having a significant impact on the mood in the German economy. The most important German economic index fell for the sixth month in a row and fell to its lowest level since February.
The auto industry weighed heavily on the Dax. Daimler slumped as the rear by 4.2 percent. Volkswagen and the holding company Porsche lost more than three and a half percent each and BMW lost 3.0 percent.
After starting difficulties in the morning, the Airbus shares turned positive and ultimately rose by 1.2 percent. The aircraft manufacturer received an order for 100 medium-haul jets from Air France-KLM.
In the second row, the shares of Rational were in the top MDax group. They gained 4.5 percent after Deutsche Bank canceled its sales recommendation for the commercial kitchen equipment manufacturer’s papers. The stock of the commercial kitchen supplier remains overvalued, but has become “tastier” again, wrote analyst Lars Vom-Cleff. As soon as the Corona crisis subsides, according to him, market conditions should normalize again and Rational should then return to the previous growth path.
The shares in the laser specialist LPKF fell by 7.6 percent in the SDax small-cap index. Due to project postponements and logistics bottlenecks, LPKF lowered its sales and earnings forecast for the current year.
The euro lagged well into the early evening and was last traded at $ 1.1275. The European Central Bank had previously set the reference rate at 1.1330 (Thursday: 1.1336) dollars. The dollar cost 0.8826 (0.8822) euros. On the bond market, the Rex bond index remained unchanged at 145.44 points. The current yield stagnated at minus 0.42 percent. The Bund future (March contract) rose in the early evening by 0.21 percent to 174.54 points.