Frankfurt Stock Exchange
Dax stable before labor market data from the US
The Dax is the most important stock index in Germany. Photo: Fredrik von Erichsen/dpa
© dpa-infocom GmbH
After two trading days with heavy losses, the Dax stabilized in early trading on Friday. Investors are waiting for the jobs report from the US for March, the economic highlight of the week.
After two trading days with heavy losses, the Dax stabilized in early trading on Friday. Investors are waiting for the jobs report from the US for March, the economic highlight of the week.
The drop in oil prices provided some momentum in the morning, with the price of a barrel of Brent crude falling to its lowest level in a good two weeks. However, the focus of investors remains on the war in Ukraine.
The Dax was up 0.2 percent in early trading at 14,443 points. After strong increases at the beginning of the week and subsequent losses, the Dax is now showing an increase of almost one percent this week. The MDax of medium-sized stocks rose in the morning by 0.26 percent to 31,092 points. The Eurozone leading index EuroStoxx 50 was on the spot with 3903 points.
In addition to high inflation, the war in Ukraine remains the key factor affecting stock markets. “Geopolitical concerns continue to weigh on investor sentiment,” wrote Credit Suisse experts. There is a lack of significant progress in talks between Ukraine and Russia.
Analyst comments caused movement for the individual stocks on the German market. Allianz shares gained almost one percent after Citigroup recommended buying. Deutsche Bank rose by 2.5 percent at the top of the Dax, where the analysts at the US bank JPMorgan make 30 percent upside potential for the course.
In the second row, Jungheinrich fell by almost five percent after Bank of America reaffirmed its vote to sell the logistics specialist.
Stratec shares at the top of the SDax of the smaller stocks soared by 16 percent. According to those informed, financial investors are interested in the in-vitro diagnostics tool.
Hensoldt shares, on the other hand, fell by 5.3 percent. Major shareholder KKR places 8.8 million Hensoldt shares. The financial investor should now completely exit the armaments group.