Markets

Dax gives way after price rally

NAfter its most recent rally, the Dax gave way on Friday. In the morning, the leading German index was down 0.44 percent at 12,512.33 points. In the current week, however, the Dax has so far gained almost 1000 points and thus almost forgotten the extremely weak previous week.

The M-Dax of the 60 medium-sized stocks fell on Friday by 0.66 percent to 27,317.53 points. The Euro Stoxx 50, the leading index for the Eurozone, fell by 0.4 percent.

The prospect of an election victory for Democratic presidential candidate Joe Biden had put investors in a buying mood this week. The result of the American election has still not been determined, but Biden was on course for victory with the count in the last remaining states.

On the German stock market, Allianz was keeping an eye on quarterly figures. The insurer was able to surprisingly increase its profit in the summer despite the Corona crisis. Analysts praised the strong solvency. The papers gained 1.5 percent.

For the shares of Deutsche Telekom it went up by three percent. T-Mobile US, the American subsidiary of the Bonn group, had presented strong figures and raised the forecast.

Due to a lower sales growth forecast by 1 & 1 Drillisch, the parent company United Internet also had to reduce its revenue targets. Both stocks fell by up to two and a half percent.

The renewed speculation about a takeover of Bilfinger caused the construction services company’s share price to soar by more than eleven percent. This put the shares at the top of the S-Dax of the smaller stock market stocks by a large margin.

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