Frankfurt Stock Exchange
Dex continues to climb to around 13,800 points
The DAX is the most important stock index in Germany.
Photo: Image aligned / dpa
Updated 08/12/2022 10:11 am
Frankfurt am Main. On Friday, the index continued to climb towards the 13,800 mark. At the end of a favorable trading week, the leading German index rose by 0.74 percent to 13,796 points in morning trading. The MDax for medium-sized companies rose by 0.25 percent to 27,965.27 points. The leading index of the euro zone, Eurostocks 50, rose by 0.50 percent to 3775.83 points.
In the course of the week, the DAX has now gained around one and a half percent and, after an unusually strong July, is likely to close the second week of August with profits. In particular, the expectation of a slower pace of US interest rate hikes has recently increased against the background of somewhat milder inflation data.
In terms of individual titles, the focus is on Freenet, Patrizia, Junghinreich and Knorr- Bremse. After strong business in the second quarter, wireless operator Freenet raised its operating profit forecast for the year, leading MDX stock up 1.3 percent.
Junghinrich increased by 0.7 percent. Analysts gave a positive sign to the forklift manufacturer’s operating results and margins in the current quarter.
On the other hand, according to the most recent quarterly report, Knorr- Brems for SMEs brought up the rear of the index with a drop of 3.0 percent. The order situation is good, but the statements made by a brake system manufacturer for trucks and rail vehicles on activities in China are negative, JPMorgan analyst Akash Gupta summarized the news.
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