Frankfurt / Main (dpa) – After a significant recovery throughout the week, the Dax posted losses on Friday. However, thanks to the better-than-expected October data from the US labor market, its negative sign at the end of the day fell to 0.70 percent.
His score is now 12,480.02. The weekly plus is eight percent, which almost makes up for the crown-related price drop. The MDax of the 60 median values fell 0.56 percent to 27,346.29 points on Friday.
“Job creation in the US turned out to be better compared to expectations, which should not obscure the still unsatisfactory overall situation,” said VP Bank economist Thomas Gitzel. “Job creation is progressing, but only in small steps.” Overall, more than 10 million jobs have been cut since March. Ulrich Wortberg of Helaba also commented: “Full employment is a long way off in America.”
Particular attention was paid to the US presidential elections this week. Despite the high level of uncertainty (the election has yet to be decided and Democrat Joe Biden’s lead over incumbent President Donald Trump is very narrow), stock exchanges rose.
Among individual stocks on the German stock market, the focus was on the insurer Allianz with quarterly figures. Despite the Corona crisis, it was able to surprisingly boost earnings in the summer, giving the stock a 0.7 percent rise.
Top of the Dax, however, were Deutsche Telekom newspapers with more than 1.9 percent. The Bonn group benefited from a strong quarterly report from its US subsidiary T-Mobile US. This had raised annual targets Thursday night.
Rheinmetall shares lost 3.2 percent after initially significant price gains. One trader attributed this to the administration’s surprisingly cautious sales forecast for the arms business. On the other hand, the group gained more confidence in the automotive supplier division. Shares in Lufthansa, which had presented its figures the day before, were at the bottom of the MDax with minus 6.9 percent.
Renewed speculation about the Bilfinger acquisition sent the construction services company’s share price on the SDax skyrocketing by nearly 11 percent.
A look at the stock exchanges in Europe and the United States showed mostly moderate losses: the leading euro zone index, EuroStoxx 50, lost 0.36 percent to 3204.05 points. There was also a slight downward trend in Paris and most other Western European stock exchanges. In London, however, the FTSE 100 closed marginally higher. In the US, the Wall Street Dow Jones Industrial Index fell 0.2 percent at the close of European trading, and the high-tech Nasdaq indices also posted smaller losses.
The euro rose. In the early afternoon it was trading at $ 1.1885. The European Central Bank set the reference rate for the afternoon at 1.1870 (Thursday: 1.1855) dollars. The dollar cost 0.8425 (0.8435) euros. The current yield in the bond market was unchanged at minus 0.64 percent. The Rex bond index fell 0.02 percent to 146.61 points. The Bund future recently fell 0.20 percent to 176.04 points.