According to the US job market report, the Dax continued its recovery on Friday. Most recently, it increased by 2.08 percent to 12,893.16 points. This means that the gap to the low for the year of 12,391 points has increased again.
All eyes were on the US jobs report for August - with the conclusion that the US Federal Reserve seems to have been confirmed on its steep tightening course. The US economy created more jobs than expected in August. A job market in good shape provides the necessary leeway to continue fighting high inflation with strong interest rate hikes. According to experts, this reinforces the view that the Fed will raise its key interest rate again by 0.75 percentage points in September.
The broad stock market also recovered on Friday after the deep red day before: The MDax with the medium-sized German stocks rose by 2.04 percent to 24,914.72 points, while the Eurozone barometer EuroStoxx rose by 1.5 percent. The indications for the US stock exchanges were also friendly.
SLM Solutions provides topics of conversation
On the company side, a takeover bid for SLM Solutions provided a topic of conversation: The papers jumped by 73 percent to 19.70 euros. They came close to the €20 cash offer from the Japanese Nikon Group, which wants to create a world leader in 3D metal printing.
Important pillars for the Dax were the shares from cyclical sectors, which have recently fallen quite sharply, including above all the solid automotive sector with price gains of up to five percent at Volkswagen and VW-Holding Porsche SE. However, as a less cyclical sector, utilities also recovered - partly because of the ongoing discussion about longer operating times for nuclear power plants.
Henkel shares are Dax losers
Henkel shares lagged behind the market due to an analyst downgrade. After a sell recommendation by Goldman Sachs, they were the last only Dax loser with a narrow discount of 0.03 percent.
The euro last cost 1.0009 US dollars. The European Central Bank had set the reference rate at $1.0004 the day before. On the bond market, the current yield fell from 1.50 percent the day before to 1.47 percent. The Rex pension index rose by 0.02 percent to 131.54 points. The Bund future rose by 0.02 percent to 147.70 points.
