The Dax reacted to economic data from China on Friday with a significant jump above the 13,000 point mark. In the afternoon, the leading German index was up 1.43 percent at 13,088.38 points, the daily high had previously jumped to a high of 13,120 points since the end of August. The stock market barometer is currently heading for a small weekly plus, after the previous week ended with a negative sign.
The MDax of medium-sized stocks advanced even more significantly than the Dax on the last trading day of the week, with plus 2.21 percent to 25,680.84 points. There was also strong growth on the European stage, with the Eurozone leading index EuroStoxx 50 recently standing almost 1.9 percent higher.
The shares in the hospital and health care group Fresenius, which were in demand from investors right from the start, increased their price a little by the afternoon and were last listed 4.3 percent higher. Deutsche Telekom was also among the Dax favorites, with a price increase of more than 3.5 percent. Good news for investors came from the subsidiary T-Mobile US, which has announced a share buyback program of up to around 14 billion euros.
Bank shares benefited again across Europe from the prospect of rising interest rates, for Deutsche Bank it was more than two percent up, Commerzbank papers did even better with a plus of four percent.
The falling gas price provided tailwind for the shares of the Uniper Group, which was hit by the energy crisis. They continued their recovery from the record low reached on Wednesday with a price increase of more than nine percent. Because the group lacks Russian gas, it currently has to buy gas on the market at high prices in order to fulfill its customer contracts. A lower price therefore plays into Uniper's hands.
Papers from the electronics retailer Ceconomy took the top spot in the small-caps index SDax, which continued the recovery rally that began the day before with an increase of almost 15 percent - however, this was preceded by an almost continuous downward slide since the end of 2021 and a record low in the middle of the week.
The euro also benefited from the record rate hike in Europe. In afternoon trade, the common currency was trading at $1.0057. It was trading above par with the dollar. The ECB had set the reference rate at $1.0009 on Thursday. On the bond market, the current yield rose from 1.46 percent on the previous day to 1.61 percent. The Rex pension index fell by 0.83 percent to 130.71 points. The Bund future rose half a percent to 143.87.
