Fearing rapidly rising interest rates in the US, investors sold shares on Friday. After two strong trading days, the dax by 2.5 percent to 14,142 points. To combat high inflation, the US Federal Reserve is considering raising interest rates by 0.5 percentage points in May. Many investors are now wondering whether the Fed could be stalling the economy with its increasingly aggressive policy of tightening, says Thomas Altmann of wealth advisor QC Partners. The effects of the Ukraine crisis and the increasing problems in the supply chain remained additional negative factors. Technology-heavy growth stocks are considered to be particularly affected by rising interest rates. Against this background, online companies such as Delivery Hero, Zalando and Hellofresh were among the biggest Dax losers with a discount of 5.7 percent. The SAP shares, which are also assigned to the tech sector, recently recorded a minus of two percent due to a disappointing operating profit margin, after having lost as much as 5.5 percent in the meantime. In the wake of SAP, shares in the software house Teamviewer also fell by 3.2 percent.
Better news for investors, on the other hand, came from Metro. The retail group is looking more positively at the current financial year. With an increase of a good five percent, the trading group’s papers led the S-Dax winners. Rheinmetall shares in the M-Dax climbed by 3.6 percent to a record high of 225 euros. The analysts at the major Swiss bank UBS increased their price target to 251 euros. Since the beginning of the year, the titles of the largest German armaments group have already increased by 160 percent.
Investors on the US stock exchanges also retreated in view of possible interest rate hikes. Of the Dow Jones closed 2.8 percent lower. Gap was one of the biggest losers, down 18 percent. Due to the weakening economy and problems with the Old Navy brand, the fashion company expects sales to fall by up to 15 percent in the first quarter.
Information on bonds, currencies and commodities can be found today on page 34.