Frankfurt Stock Exchange
Dax shifts into reverse again
The Dax is the most important stock index in Germany. Photo: Fredrik von Erichsen/dpa
© dpa-infocom GmbH
The lurching course on the German stock market continued on Friday with a weaker opening. After the strong turn into plus from the previous day, the Dax lost 1.24 percent in early trading to 15,331.82 points.
The lurching course on the German stock market continued on Friday with a weaker opening. After the strong turn into plus from the previous day, the Dax lost 1.24 percent in early trading to 15,331.82 points.
This indicates a weekly loss of around 1.7 percent for the most important German stock market barometer. The MDax fell by 0.64 percent on Friday morning to 33,015.38 points.
Concern about the imminent turnaround in interest rates in the USA and its pace had initially thrown the Dax back to just under 15,200 points the day before. Then the buyers took over again and ensured that the leading index ultimately surpassed the 15,500 point mark.
According to market analyst Edward Moya from broker Oanda, stock market activity is likely to be characterized by major fluctuations for some time to come. Because the bargain hunters would have a new motto, namely “sell the rally”, in addition to “buy the dip”. So they always looked for opportunities when prices fell, but not for longer-term investments.
Consumer goods group Henkel disappointed investors on Friday with its growth outlook. The shares collapsed in early trading by 7.6 percent as the bottom of the Dax. Henkel expects lower growth for the current financial year than in 2021. Even in the case of the operating return, adjusted for special effects, there should only be a minimal improvement at best. In the wake of the rapid losses at Henkel, the titles of the competitor Beiersdorf lost 3.2 percent.
Symrise shares reacted to the current business figures of Swiss competitor Givaudan with a price discount of 2.7 percent. The fragrance and food additives maker’s earnings performed worse in 2021 than average analysts had expected. The Symrise shares only rose to a record high of EUR 132.65 in November, but came under pressure at the beginning of 2022 in the wake of the general turbulence on the stock market.
Villeroy and Boch share certificates rose by 1.7 percent. In 2021, the ceramics manufacturer reported its highest operating profit (EBIT) since going public in 1990. Sales including license revenues increased by 18 percent.