Stock exchange in Frankfurt: Dax slightly up again

The German stock market initially stabilized somewhat on Friday.

Stock exchange in Frankfurt: Dax slightly up again

The German stock market initially stabilized somewhat on Friday. The leading index Dax rose above 12,000 points again.

Around noon it was up 0.9 percent at 12,080 points. In the course of the weak week so far, the Dax had slipped to the level of November 2020 at 11,862 points.

The MDax recovered on Friday afternoon by 1.4 percent to 22,105 points. For the index of medium-sized companies, it had even gone down to the level of April 2020 at 21,612 points over the course of the week. The leading eurozone index, the EuroStoxx 50, rose 0.8 percent on Friday.

The papers of Porsche AG continued to be in focus. The day before, Volkswagen's sports car subsidiary celebrated the largest German IPO since Telekom in 1996 in the midst of tense financial markets. The issue price per preferred share of EUR 82.50 was further defended in Xetra trading. Most recently they cost 83.28 euros.

The shares of Adidas and Puma in particular showed significant weakness - Adidas with a new low since 2016. US competitor Nike had disappointed the previous evening with its quarterly figures. Increased logistics costs and a strong dollar are slowing down business. At the same time, inventories are skyrocketing and are being reduced with the help of discounts, among other things. Nike shares are down 9 percent in after-hours trading.

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