So the opened DAX with a moderate profit and then increases it. During the day he was able to recapture the 15,600 point mark at times. However, he gave up part of his profits by the end of trading and was ultimately quoted at 15,542.98 points (+ 0.46%). Also the TecDAX was able to gain significantly after initially entering the trade with only a small increase. He ended the session 0.43 percent up with 3,796.46 points.
Positive signals from the ailing Evergrande group in China had a supporting effect. Reports that the real estate giant Evergrande should have serviced a bond in good time before maturity at the weekend eased worries about a possible insolvency of the group and thus a risk of contagion for the Chinese real estate sector.
The German economy, meanwhile, surprisingly lost momentum significantly and is apparently marching towards stagnation. The purchasing managers’ index for the private sector fell by 3.5 points to 52.0 points, as the IHS Markit institute announced on Friday for its monthly survey of hundreds of companies from the industrial and service sectors. This is an eight month low.
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Of the EuroSTOXX 50 started with a marginal profit, which he was able to expand strongly in the further course of trading. In the end, there was a premium of 0.8 percent to 4,188.81 index units on the board.
There was some hope that Evergrande had transferred the money for a due bond interest payment to a trustee, according to an insider. But this shouldn’t be more than a breath of fresh air in the drama about the construction company. Meanwhile, the reporting season got off to a good start, with European companies in particular reporting on the development in the third quarter on Friday.
However, heightened supply bottlenecks and concerns about a possible flare-up of the pandemic slowed the eurozone economy more than expected in October. The composite index for production in the private sector – industry and service providers together – fell to 54.3 points from 56.2 in the previous month, as the IHS Markit Institute reported. That is the lowest level in six months.
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Of the Dow Jones opened the session on Friday a marginal 0.01 percent higher at 35,607.72 points. However, after it was able to work its way further into the profit zone, the US benchmark index slipped into red territory. The tech value index NASDAQ Composite falls deep into the red, after already giving way at the start by 0.38 percent to 15,158.06 points.
According to Brsianern, the quarterly reports of the companies in the current reporting season have so far been positive overall. Meanwhile, activity in the US economy picked up in October. The collective index for production in the private sector collected by IHS Markit fell from 55.0 points in the previous month to 57.3 points.
The evening before, Intel and Snap published their quarterly reports deeply. However, these are now dampening the good mood for technology stocks. On Friday, other companies, Schlumberger, Honeywell and American Express, opened their books.
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The leading index closed in Japan Nikkei with a gain of 0.34 percent at 28,804.85 points.
The fell on the stock exchange in Shanghai Shanghai composite by 0.34 percent to 3,582.60 units by the end of trading. In Hong Kong the Hang Seng however, by 0.42 percent to 26,126.93 points.
According to insiders, the heavily indebted Chinese real estate company Evergrande gained some breathing space by paying due interest on a bond. Had Evergrande not been able to raise the money in time, a formal default would have been the result. In addition, the moderate gains on the US stock market provided support.
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