Dax with a small loss – job report from USA not a guide

Frankfurt / Main (dpa) – The German stock market closed the week with slight losses from trading. The leading index Dax lost 0, 28 percent on Friday and landed at 15. 206, 13 points. The MDax also fell by 0, 29 percent to 33.410,34 Points.

The Dax posted a weekly plus of 0.3 percent after turbulent days in which it was now with 14. 818 points slipped very close to its May low.

US labor market data for September changed the trend not on the stock market. Last month were in the US 194. 000 new jobs have been created – a rather disappointing number. However, the unemployment rate fell significantly and hourly wages rose sharply.

At the end of the week, real estate companies, among other things, were in focus on the stock exchange. The prospect that the competitor Vonovia could get involved caused the Adler Group shares to fluctuate. At first it drove the recovery of the recently troubled stocks further, but investors remained scared. Turned into the red at times, the price leveled off again in the end at 3.9 percent in the profit zone. The Adler share closed at exactly 12 euros.

Vonovia has the right to over the next 16 months a share of 13, 3 percent in Adler at the price of 14 euros per share. The purchase price for the shares would thus be significantly higher than the latest share price.

At the top of the Dax, Daimler shares established themselves with an increase of 2.6 percent. There was a good mood here that the major Swiss bank UBS recommended buying the shares. Analyst Patrick Hummel expects a recovery in the carmaker’s production, which is currently still affected by the chip crisis. That could 2022 make it a record year for Mercedes-Benz.

The mood in the auto sector was generally better, among other things, the shares of supplier companies were in demand. Continental even became the front runner in the Dax with an increase of 3.2 percent. The tire manufacturer recently spun off its Vitesco drive division. After a gloomy stock market debut, their shares have now recovered by 7.6 percent.

The leading euro zone index EuroStoxx fell by 0 on Friday, 61 Percent on 4073, 28 points. In Paris, the Cac lost 0.6 percent, while the London FTSE 100 went 0.3 percent higher. At the close of European trading, the US leading index Dow Jones Industrial moved at the previous day’s level.

The euro was last traded at 1. 1570 US dollars. The European Central Bank (ECB) had set the reference rate at 1, 1569 (Thursday: 1, 1562) US dollars. The dollar cost 0. 8644 (0, 8649) euros.

On the bond market, the current yield rose from minus 0. 28 percent on the previous day to minus 0, 25 percent. The Rex bond index fell by 0, 13 percent to 144,09 Points. The Bund Future recently lost 0, 25 percent to 169,16 Points.

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