2023-07-21 20:16:45
Frankfurt/Main.
The Dax almost ironed out its moderate daily losses on Friday. Disappointing quarterly figures from SAP weighed on the leading German index, but support came from two sides in the afternoon. On the one hand, friendly US stock exchanges, on the other hand, the fact that the pharmaceutical and laboratory equipment supplier Sartorius is looking to the future with more optimism helped.
The Dax finally went out of business with a discount of 0.17 percent to 16,177.22 points. This means an increase of 0.5 percent over the course of the week. The MDax with the 50 medium-sized listed companies closed on Friday with a plus of 0.08 percent to 28,253.09 points.
The EuroStoxx 50, the stock exchange barometer for the heavyweights in the euro zone, rose by 0.40 percent to 4391.41 points and gains were also recorded in Paris and London. In the US, the Wall Street index Dow Jones Industrial gained 0.2 percent at the close in Europe, heading for the tenth consecutive day of gains. At the same time, the Nasdaq stock market recovered slightly from the heavy losses of the previous day.
Overall, caution dominated the actions of investors, because in the coming week, two top events are on the agenda with the key interest rate decisions in the USA and the euro zone. These have the potential to send exchanges one way or the other.
Sluggish growth in SAP’s promising cloud business and lowered annual targets from SAP didn’t go down well with investors. The shares of Europe’s largest software manufacturer fell at times as the Dax tail light to the lowest level since mid-May and ended the day slightly higher at minus 4.2 percent.
The shares of the pharmaceutical and laboratory equipment manufacturer Sartorius, on the other hand, managed to turn their initial losses into profits. With a premium of 7.7 percent, they ended up taking the top spot in the Dax. After a quarterly report that was initially somewhat weaker than expected, investors became more confident that the order situation had now bottomed out.
Vitesco hit a record high at just over €80 during the course of trading, but eventually fell 2.6 percent. The takeover of Software AG means that the automotive supplier’s shares will be included in the MDax on Tuesday. The Darmstadt software company is removed from the MDax and TecDax.
The euro was trading at $1.1119 early in the evening. The European Central Bank set the reference rate at 1.1123 (Thursday: 1.1197) dollars. The dollar thus cost 0.8990 (0.8931) euros. On the bond market, the current yield rose from 2.50 percent the previous day to 2.54 percent. The Rex pension index fell by 0.23 percent to 124.36 points. The Bund future recently gained 0.20 percent to 133.23 points. (dpa)
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