Dhe price rally of the past few days led to moderate profit-taking in the Dax on Friday. Even the high domestic consumer prices in October were ignored because the most important price driver remains energy. In Germany, according to the Federal Statistical Office, inflation rose to 10.4 percent in October in a first estimate.
The German leading index Dax fell by 0.6 percent to 13,138 points by the afternoon. The weekly increase thus amounts to more than 3 percent. The MDax of medium-sized stocks recorded a minus of 1.3 percent to 23,626 points on Friday. The leading index in the euro zone, the Euro Stoxx 50, lost 0.4 percent.
In the US, Apple and Amazon presented meager quarterly reports after the business hours on Thursday. They ranked among the tech heavyweights such as Alphabet, Microsoft or Meta, which had previously disappointed with their numbers and outlook. On Friday, the American stock exchanges opened with price premiums. The standard value index Dow Jones climbed at times by 0.9 percent to 32,319 points, the technology-heavy Nasdaq 100 by 0.5 percent to 11,253 points.
In Germany, numerous domestic companies were also in focus in the Dax alone. Airbus and Volkswagen presented figures, as did the US mobile communications subsidiary of Deutsche Telekom. Despite a very strong performance in Airbus shares since the beginning of October, shares have continued to rise by 1.5 percent. The T-Share took the Dax tip with plus 2.2 percent. It benefited from the fact that T-Mobile US had once again raised its growth forecasts after strong quarterly figures. VW, on the other hand, gave in after a mixed quarterly report by 3.4 percent and dragged that of the Porsche holding company down. Outside the Dax family, however, the papers of the subsidiary Porsche AG increased slightly.
Burdened by numbers and forecasts from US competitor Davita, the shares of dialysis specialist Fresenius Medical Care (FMC) lost 4 percent in price. Not only that hit the papers of the parent company Fresenius SE, which fell by 2.4 percent. A press report on measures taken by the healthcare group against the increasing influence of the US hedge fund Elliott was also not well received. Fresenius is preparing for an attack by the actionist hedge fund, as the “Wirtschaftswoche” wrote, citing corporate and financial circles. A Fresenius spokesman did not want to comment on this, according to the magazine.
The euro traded at $0.9954 in the afternoon session. The European Central Bank set the reference rate at $1.0037 on Thursday. On the bond market, the current yield fell from 2.14 percent on the previous day to 2.06 percent. The Rex pension index fell by 0.23 percent to 127.16 points. The Bund future fell sharply in the afternoon by 1.29 percent to 138.80 points.