The Dax Losses for the First time on Friday

After five trading days in positive territory, the Dax recorded losses for the first time on Friday. After some ups and downs in the course of trading, the leading German index finally closed at a discount of 1.65 percent at 11,586.85 points. The emerging new tensions between the USA and China in view of the Hong Kong crisis were no longer ignored by investors.

The day before the Dax had reached 11,813 points in the course of the recovery from the Coronavirus, the highest level since the beginning of March. In spite of the current losses, May’s share price rose by around 6.7 percent. The weekly increase is 4.6 percent.

In the ranks behind the Dax, the MDax of medium-sized German stocks fell on Friday by 0.93 percent to 25,396.00 points.

While the easing measures in the Corona crisis faded into the background on the last trading day of the month, additional nervousness caused that US President Donald Trump announced an opinion on the conflict with Beijing this Friday. Despite massive international criticism, China’s People’s Congress had approved plans for a new security law in Hong Kong.

Profit-taking took place across Europe on Friday, especially in the tourism, automotive and banking sectors. In the Dax, Lufthansa paid tribute to their latest recovery rally with a loss of just under six and a half percent. Daimler and Volkswagen also slipped sharply with losses of almost five and almost three and a half percent, respectively. Continental, which Morgan Stanley also downgraded to “equal weight”, gave up around four and a half percent.

The shares of the fashion group Hugo Boss suffered from two gradations in the MDax, which, after their recent recovery, now stand out as the index bottom with a discount of more than nine percent. Both Jefferies and DZ Bank lowered their recommendation to “hold”.

Internationally, things went down before the weekend: The EuroStoxx 50, the leading index for the euro zone, ended the day at a discount of 1.43 percent to 3050.20 – but was also up for the month of May. The Paris leading index Cac 40 posted discounts of around 1.6 percent, while the FTSE 100 in London fell by more than two percent. On Wall Street, the Dow Jones Industrial was down almost one percent at the close of trading here.

The euro recently cost $ 1.1106. At $ 1.1145, the European single currency had previously reached its highest level in two months. The European Central Bank (ECB) set the reference rate on Friday at $ 1.1136 (Thursday: 1.1016).

The Rex bond index advanced 0.02 percent to 144.54 points on the German bond market. The current yield stagnated at minus 0.41 percent. The Bund future gained 0.16 percent to 172.35 points.

Editor’s note: This article is for reference only and does not constitute an offer, solicitation or invitation, inducement, any representation regardless of type or form, or make any suggestions and recommendations. Readers should use their independent thinking ability to make their own investment decisions If any losses are incurred due to the relevant recommendations, it has nothing to do with Lean Financial Media, the editor and the author.

Reviewer overview

The Dax Losses for the First time on Friday - /10

Summary

After five trading days in positive territory, the Dax recorded losses for the first time on Friday.

0 Bad!