On the last trading day of the week, lethargy largely determined trading on the German stock market. Even the eagerly anticipated numbers on the US labor market did not bring any fresh momentum. Investors struggled to derive any clear new insight from the report about the Fed’s timeline to cut stimulus. Of the Dax fell by 0.4 percent to 15,781 points by the end of trading. The markets were also excited about Friday evening. Deutsche Börse then wanted to announce the future members of the Dax, which had grown from 30 to 40 companies. As of September 20, the M-Dax will shrink from 60 to 50 companies.
When it comes to corporate values, Delivery Hero moved into the spotlight. The food supplier had received 1.25 billion euros by issuing a convertible bond. With the papers convertible into shares, the number of shares could increase, which should weigh on the price. In addition, investors often subscribe to the convertible bonds and sell their shares in return. The papers from Delivery Hero were at the bottom of the Dax with a minus of almost two percent.
According to a media report, the plastics manufacturer Covestro wants to cut up to 1,700 jobs worldwide. A company spokeswoman described the number as an internal estimate in the course of the ongoing adjustment of the corporate structures. Covestro’s share price was recently 0.5 percent higher. The inclusion on the purchase list of the major French bank Société Générale only helped the papers of the engine manufacturer MTU to gain temporarily, most recently they were 0.3 percent in the red.
In the M-Dax, the titles of Shop Apotheke took one of the lower places with minus three percent. After the price had risen by more than 30 percent in the past four weeks, investors took profits. Varta shares lost one percent of their value. The Metzler bank had advised the battery manufacturer to sell its shares.
After surprisingly weak job creation in the US in August, US investors were also reluctant to buy stocks. Of the Dow Jones closed 0.2 percent lower.