At the end of a pretty strong week overall, the Dax gave up a lot on Friday. Investors avoided risk before the reporting season began at midday in the USA. Concerns about interest rates also continue to inhibit, because according to the experts at ING Bank, a further, final interest rate increase by the US Federal Reserve Bank remains within the realm of possibility based on the inflation data from the previous day.
The day before, the Dax had already turned negative in the afternoon and it was now building on that trend. With a discount of 0.95 percent to 15,278.79 points, the losses increased over the course of the morning. At the same time, the MDax fell by 0.83 percent to 25,082.22 points and the EuroStoxx was in the red by 0.9 percent.
The weekly increase in the Dax shrank to just under 0.4 percent with the weak Friday.
“The US reporting season really gets off to a flying start today with the US banks JPMorgan, Citigroup and Wells Fargo,” said market observer Thomas Altmann from QC Partners. It has the potential to determine the direction of the stock market in the coming weeks.
Because of the banking figures from the USA, the focus here is likely to increasingly shift to the shares of Commerzbank and Deutsche Bank over the course of the day. They continued their mixed development of the past few weeks with losses that became larger as the first expected figures from JPMorgan got closer. The recent price losses were up to 2.5 percent.
However, Sartorius is not setting an example for positive expectations for the reporting season: the pharmaceutical and laboratory equipment manufacturer has lowered its annual forecast after declining business in the first nine months. The price collapsed by more than 12 percent to its lowest level since June 2020. The bad news from Sartorius also weighed on some other DAX members from the healthcare industry.