Dax closes in plus

Dax closes in plus

In the course of the day, the german benchmark index had risen to above the 12 percent mark.700 numerators climbed. But after carrying wall street, it lost momentum in the final hours of trading. The weekly balance for the dax was a minus of around 2 percent.

The mdax index of 60 mid-cap stocks rose 0.33 percent on friday to close at 27.279.59 payers from trade. Market participants had shown a very selective interest in certain industries and sectors before the weekend, noted market expert andreas lipkow of comdirect bank. Financial stocks in europe were in demand.

However, market experts doubt the sustainability of the youngest gains in the dax. Andreas buchler of the borsenstatistikmagazin index radar believes only in a short countermovement. Investors should therefore remain cautious as long as the market does not move significantly above the 12-month mark.800 points recovery. And also timo emden of emden research pointed out that there are still too many uncertainties such as the rising corona new infections and the near jolting u.S. Presidential election.

Among individual stocks, shares from the airline industry, which has been hit by the corona pandemic, were in demand. They were buoyed by news that airbus is preparing itself and its suppliers for possible production increases starting next summer. The shares of the aircraft manufacturer rose by around five and a half percent, while the shares of the engine manufacturer MTU climbed even higher, gaining almost seven percent at the top of the dax. Lufthansa claimed this position on the mdax with a gain of almost 5.6 percent.

Shares from the european banking sector received a lot of tailwind from robust figures from the british bank barclays. Deutsche bank shares rose by around two percent. Commerzbank shares rose by 3.1 percent, helped by a study by goldman sachs according to which the frankfurt-based bank is a takeover candidate.

While merck shares climbed to a record high of around three percent before the weekend without any news worth mentioning, daimler shares were in demand after the company raised its earnings outlook. However, the shares gave back part of their daily gain by the end of the day and closed one percent higher.

Investors responded to ceconomy’s sales figures with a gain of almost four percent. Here drove above all the hope of a sustained recovery of the electronics trader.

Downgrades by UBS and the private bank hauck& aufhauser caused profit-taking in carl zeiss meditec shares. Analysts at both institutes had abandoned their previous buy recommendations for the medical technology manufacturer. This pushed the shares down by around two and a half percent.

Europe’s markets also managed to regain their footing at the end of the week: the euro zone’s leading index, the eurostoxx 50, climbed by 0.87 percent to 3198.86 points. The cac 40 in paris and the british FTSE 100 also rose. In the USA, the dow jones industrial index was slightly down at the close of european trading.

The euro rose in evening trading to last 1.1840 U.S. Dollars. The european central bank (ECB) had previously set the reference rate at 1.1856 (thursday: 1.1821) us dollars. The dollar had thus cost 0.8435 (0.8460) euros. On the bond market, the current yield rose from minus 0.59 percent to minus 0.58 percent. The rex bond index fell 0.07 percent to 146.19 points. The bund future recently climbed 0.05 percent to 175.34 points.

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