At the end of the week, investors on the European stock markets exercised caution. Of the dax closed on Friday down 0.7 percent at 13,574 points. The bottom line, however, was a weekly gain of a good two percent for the leading German index. Since the current crises could escalate further at any time and investors wanted to play it safe, the risk of profit-taking increased before the weekend, said Jürgen Molnar from Robo-Markets. In addition, renewed fears of interest rate hikes dampened investor sentiment after far more jobs were created on the US labor market in July than expected.
The balance sheets of numerous companies caused movement in the individual values. In the Dax, Deutsche Post shares took the top spot in the list of winners, up 4.6 percent. Thanks to thriving business, the logistics group is continuing to grow, especially in its freight division. On the other hand, the Allianz shares were among the biggest losers in the leading German index, which fell by 1.6 percent despite an increase in the operating result in the second quarter. According to dealers, the asset management division, among other things, caused upset. The asset managers Pimco and Allianz Global Investors collected less success commissions. In addition, investors withdrew 34 billion euros between April and June.
After the cabinet decision on the gas surcharge, Uniper’s paper, which was badly battered this year, was in a buying mood. The shares of Germany’s largest gas importer rose by 1.5 percent in the M-Dax. Despite a record profit in the first half of the year, Rheinmetall shares fell by 11.8 percent. According to dealers, the reason for the sell-off was that the company scaled back its annual forecast for incoming orders in the armaments sector. Aurubis’ shares fell by two percent. A trader said that despite better sales, the copper producer’s operating earnings figures were slightly below analyst estimates.
The stock exchanges on Wall Street went slightly uphill. Of the Dow Jones closed 0.2 percent higher at 32,803 points.