2023-05-26 20:36:21
The hope of an early agreement in the US debt dispute gave the Dax a conciliatory end to the week on Friday. As early as midday, the leading German index flipped the switch at its daily low. As trading continued, it continued to rally with the strong US stock markets, closing 1.20 percent higher at 15,983.97 points, curbing its weekly loss to 1.8 percent. Last Friday it had reached a record high of 16,331 points.
The MDax for medium-sized companies also managed to reverse the trend before the Pentecost weekend: it ended up gaining 0.76 percent to 26,991.28 points. The leading eurozone index, the EuroStoxx 50, ended trading 1.6 percent higher, and Paris and London were also on the up. On the New York stock exchanges, the leading index Dow Jones Industrial rose by 0.8 percent at the end of trading in Europe. The technology-heavy Nasdaq 100 continued its rally of the previous day with a plus of 1.9 percent.
There seems to be movement in the dispute over raising the debt ceiling. This is indicated by a report by the “New York Times”, according to which the negotiators from Democrats and Republicans have started drafting a legal text.
The TV company ProSiebenSat.1, which slipped into the red due to the persistently weak TV advertising business, was keeping an eye on quarterly figures on Friday. The shares contained their minus with the market to 0.6 percent until the end.
Hensoldt’s shares fell by more than twelve percent in the MDax at times, but ultimately reduced the minus to 4.2 percent. The armament electronics specialist contradicted a report by the news magazine “Der Spiegel” about indications of unfair business practices and inadequate internal controls.
Siltronic and Süss Microtec shares increased their previous day’s gains by 7.1 and 5.2 percent, respectively. Nvidia’s strong outlook got semiconductor stocks rolling the day before and continued to provide momentum.
The software provider Suse was the undisputed leader in the SDax small-cap index. Analyst comments also caused movement, for example at the wind power group Nordex. Buoyed by a buy recommendation from Societe Generale, the shares gained almost two percent. A buy vote by Hauck Aufhäuser Investment Banking helped the shares of the IT consultant and cloud specialist GFT Technologies rise by 4.9 percent.
The euro has been little moved at $1.0717 after slipping to its lowest level in over two months at $1.0702. The European Central Bank (ECB) set the reference rate at $1.0751.
On the bond market, the current yield rose from 2.51 percent on the previous day to 2.54 percent. The Rex pension index fell by 0.28 percent to 124.95 points. The Bund future fell 0.05 percent to 132.99 points. (dpa)
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