The DAX thus recorded a weekly increase of 1.4 percent. The day before, the leading German index had fallen below the 18,100 point mark, in the wake of weak American technology stocks.
Despite the fact that technology stocks in the US fell sharply this week, the Dax seemed relatively stable, says analyst Konstantin Oldenburger of broker CMC Markets. With this idea, all options remained on the table. A positive end to the month and a positive start to August still seemed possible.
At the end of the week, the American technology exchange Nasdaq got back on track somewhat. The American price index PCE for June also provided reassurance. This is the preferred price benchmark of the American Federal Reserve. Given this development, it is unlikely that the expectations for American monetary policy will change. The hoped-for interest rate turnaround is not yet expected during the Fed meeting next week. But a cut in September still seems possible.
Technical chart signals for DAX remain mixed
Despite Friday’s recovery, technical chart signals for the Dax remain mixed for now. In the week that ended, the price fell below the recovery trend that began in mid-June and was only tested on Friday. The recently weak MDax of mid-sized stocks rose 0.66 percent to 25,117 points on Friday.
The Eurozone’s benchmark index EuroStoxx closed 1.06 percent higher at 4,863 points. The French The Cac 40 and Britain’s FTSE 100 also rose significantly.
The German reporting season continued Friday. BASF shares, which had recently stabilized somewhat, lost 2.3 percent at the bottom of the DAX. The chemical company posted a surprisingly large drop in sales in the second quarter.
Thyssenkrupp shares lost 7.7 percent
Fellow MDax member Wacker Chemie recorded a 7.8 percent decline after a few price fluctuations. Market observers saw light and shadow in the quarterly report.
Shares in Thyssenkrupp fell 7.7 percent. After a weak second quarter, the industrial group is becoming even more pessimistic about the current fiscal year. Traders spoke of continued disappointment.
The bottom line is that Mercedes-Benz’s paperwork barely moved. The automaker tempered its outlook for the profitability of its passenger car division due to weakening demand China A. Investors can be happy that Stuttgart’s auto margin returned to double digits in the second quarter despite the small share of top models, wrote Goldman analyst George Galliers.
Sartorius shares rise 6.5 percent
The leaders in the DAX were Sartorius shares with a plus of 6.5 percent. This means that they have almost recovered the heavy losses after the lowered outlook within a week.
Shares in Rheinmetall rose 3.8 percent. The arms company and automotive supplier announced an order from Switzerland for mortar ammunition worth a mid-double-digit million euros. According to the figures, Hensoldt was volatile: shares lost 0.7 percent at the close of trading.
The euro showed little movement at 1.0858 US dollars. The European The central bank set the reference rate at 1.0860 (Thursday: 1.0851) US dollars. The dollar therefore cost 0.9208 (0.9215) euros.
On the bond market, the current interest rate rose from 2.41 percent the day before to 2.44 percent. The Rex bond index fell by 0.12 percent to 125.02 points. The Bund future rose by 0.23 percent to 132.69 points.