Frankfurt / Main (dpa) – The Dax almost completely surrendered its previous day’s profits in the first trading hour on Friday. With a minus of the last 0, 71 percent to 15. 532, 20 Points the German benchmark index is currently heading towards a plus of around 0.3 percent on a weekly basis.
The MDax of the medium-sized stock market values lost 0 on Friday morning , 49 percent on 35. 308, 45 Counter. The leading index of the Eurozone, the EuroStoxx 50, posted a discount of 0.7 percent. In the morning, the Ifo business climate will be published in this country, which could cause further movement in the market.
The situation at the troubled Chinese real estate company Evergrande remains exciting. Jennifer James, portfolio manager at Janus Henderson Investors, believes Evergrande is unlikely to trigger a financial crisis on its own. The fact that the Chinese government informed banks that the company will not make interest payments this week is a sign that the government is taking action to curb the impact on the global economy.
Also Europe’s monetary watchdogs believe the effects of the Evergrande crisis on Europe are currently limited. “At the moment we see it focused on China,” said the President of the European Central Bank (ECB), Christine Lagarde, in an interview published on Friday with the US TV broadcaster CNBC. “For Europe I can say that it is only directly affected to a limited extent.”
The Dax was on Monday with 15. 019 points had slipped to the lowest level since May, mainly because of Evergrande and concerns about a possible real estate crisis in the People’s Republic, but had almost made up for the losses by the middle of the week. The latest monetary policy signals from the US Federal Reserve had helped.
On the equity side, sporting goods manufacturers are in focus before the end of the week after the business figures presented the previous evening and a lowered annual sales forecast by Nike. Jefferies analyst James Grzinic pointed to the ongoing supply chain disruptions that plagued North Americans. The problems are unlikely to be resolved until late spring 2022. On Friday, this influenced the share prices of the German competition: Adidas and the Puma titles, which are now also listed in the Dax, lost 3.5 and 2.7 percent respectively. This made them the weakest values in the leading index.
Teamviewer gained 2.3 percent in first place in the MDax. Bankhaus Metzler had rated the papers as “Buy”. Analyst Holger Schmidt attested the provider of remote maintenance solutions an attractive combination of double-digit sales growth and high profitability. The discount to the competition is too high.