Dax continues to weaken: After a shorter trading week, the leading German index started the weekend with a big daily loss on Friday.
Fear of rising interest rates pushed investors on the defensive on Friday. In light of high inflation and economic risks, the yield on 10-year Bunds rose to its highest level in nearly seven years.
In the US, the signs clearly point to increases in interest rates. Another risk factor came with the presidential elections in France on Sunday. A victory by right-wing extremist candidate Marine Le Pen could “provoke significant disruption to financial markets”, Landesbank Helaba warned.
the dax it lost 2.48 percent to 14,142.09 points after two strong trading days. With this biggest daily loss in six weeks, weekly interim gains were again a waste. Share prices also fell in the second row of stock exchanges: the MDax for medium shares lost 2.05 percent to 30,800.16 points.
Tech stocks under particular pressure
High-tech growth stocks are seen as particularly affected by rising interest rates. In this context, German online companies such as Delivery Hero zalando or Hellofresh with up to minus 5.7 percent among the losers in the Dax.
The quarterly reporting season, which has been going well so far, brought mixed news ahead of the weekend: SAP, which is also assigned to the tech sector -Shares fell 2 percent on a disappointing profit margin.
But there was also better news: the Metro retail group he views the current fiscal year more positively, which gave the stock a good 5 percent price gain.
Adler Group in the focus of investors
An upbeat outlook from Swiss building materials group Holcim pulled shares from cement maker Heidelbergcement with top With a plus of 0.8 percent, newspapers were the only gainers among the 40 Dax stocks.
Covestro They were only visually at the bottom of the leading index, because the plastics group’s shares were trading without dividends. The same applied to the automotive supplier Schaeffler in SDax .
After an early jump in the Adler Group’s price by 20 percent, the profit was down to a meager percent at the close of trading. The result of the investigation by KPMG’s auditors initially came as a relief to investors. The real estate group is now relieved of accusations of systematic fraud. However, after the initial jump in price, investors returned to profit.
European stock markets close in the red
Stock markets across Europe were under pressure heading into the weekend. The Euro Stoxx 50 it lost 2.24 percent to 3,840.01 points. The French Cac 40 recorded a similarly high loss on the FTSE 100 in London the minus was a bit smaller. In New York, the leading Dow Jones Industrial Index at the close of European trading also fell significantly.
The euro, highly demanded the previous day, slipped in the foreign exchange market up to $1.0785 per night. The European Central Bank had previously set the benchmark rate at $1.0817 (Thursday: $1.0887). The dollar thus cost 0.9245 (0.9185) euros.
In the bond market, the current yield rose from 0.79 percent a day earlier to 0.83 percent. The Rex Pension Index it fell 0.24 percent to 135.81 points. The future of the Bund it fell 0.29 percent to 153.30 points overnight.