The Dax continued its record hunt on Friday. Most recently it was up almost 0.4 percent at 19,903 points. The MDax with medium-sized German stocks gained 0.8 percent to 27,021 points. It has some catching up to do as it is still more than a quarter away from its record level. The EuroStoxx was recently up 0.2 percent at 5,044 points.
Chinese economy in focus
In the past few days the drivers have come out China with a variety of measuresto support the local economy. Chinese stocks had their best week of the decade after the economic stimulus. The friendly mood in China also had a positive effect on German companies on Friday, as for many China is the most important growth market. Car manufacturer shares continued to rise on Friday and supported the Dax.
Hella and SAP shares under pressure
In the automotive sector, the supplier Hella Meanwhile, a series of profit warnings continues. According to JPMorgan analyst Jose Asumendi, this is a warning sign for the auto parts industry. Hella shares fell by more than 2 percent. Optimism prevailed in the rest of the auto sector. According to market observer Jürgen Molnar from the broker Robomarkets, Hella doesn’t really bother the big picture on the stock market. When the bad news is out and the wind changes in China, an extension of the rally in the auto sector is possible.
A counterweight in the Dax were the titles of the heavyweight SAP, which paid tribute to a long record rally with a loss of 1.2 percent. Most recently, they were traded at prices above 200 euros for the first time in their history. This threshold was not yet in danger on Friday.
Commerzbank on the upswing
Commerzbank shares rose another good one percent amid the takeover fantasy. They traded above the 16.50 euro mark for the first time since 2011. Filippo Alloatti of Federated Hermes Limited described a “hostile takeover” as unlikely in the near future. A complete takeover by UniCredit From his point of view, however, it should be “more a question of when than if” and it will probably succeed in the end.
Mutares shares were a loser in the small cap sector with a loss of 1.6 percent. Accounting allegations from a short seller had already caused the price to collapse the day before. There is still no sign of a recovery.
US stock markets are up, AI fantasy is blooming again
After the mixed day before, investors on the US stock markets were again in a buying mood on Thursday. Stock marketers pointed to positive US economic data and strong economic stimulus from China. The technology stocks on the Nasdaq also benefited from an unexpectedly good sales outlook from the semiconductor company Micron.
The Dow Jones Industrial closed 0.62 percent higher at 42,175 points. The leading index thus approached the record high of 42,299 points reached the previous day.
Rally on Chinese stock markets continues
The main stock markets in Asia continued their recovery on Friday. The extensive support measures in China continue to provide plenty of tailwind. The CSI 300, which includes the main Chinese mainland stocks, rose 4.5 percent in late trading. In the Chinese special administrative region of Hong Kong, the Hang Seng rose by 3.8 percent. The Japanese leading index Nikkei 225 also rose. He recently gained 2 percent.
Oil prices continue to fall
Speculation about an increase in production in Saudi Arabia was a topic of discussion on the raw materials market. North Sea oil Brent and US oil WTI fell on Friday morning by 0.21 and 0.19 cents to 71.39 and 67.48 dollars per barrel.
Saudi Arabia, the world’s largest crude oil exporter, is preparing to abandon its unofficial price target of $100 a barrel and increase production, the Financial Times reported, citing insiders.
There are also diplomatic efforts to ensure that the geopolitical situation in the Middle East does not deteriorate further. A group of states around the USA and Germany along with key Arab countries, increased pressure on Israel and the Hezbollah militia and called for a ceasefire. In recent weeks, concerns about geopolitical escalation have driven oil prices up several times.