Stock index jumps over 14,000 points for the weekend

Twitter’s stock plummeted by 25 percent in the pre-market period, and in the course of the day it leveled off at a minus of more than eight percent. It was the lowest level since the end of March, shortly before Musk’s takeover offer. By contrast, Tesla’s recently badly shaken securities recovered by almost five percent.

Other European stock markets also performed well at the weekend. The EuroStoxx 50, the leading index of the eurozone, closed 2.49 percent higher to 3703.42 points. On the leading stock exchanges in Paris and London, the price gains were similarly high.

In recent days, the world’s stock markets have been subject to stronger fluctuations, which resembled a tug-of-war between “bulls and bears”, that is, the pessimists and the optimists among investors. In the case of setbacks, it was bought, but in the case of recoveries, it was also quickly sold again. The Dax is still in a major downtrend. This does not exclude short-term rally episodes with prices above 14,000 points.

In the reporting season, it became calmer before the weekend. The results of Deutsche Telekom and occasionally of companies from the back rows were still in focus. After the subsidiary T-Mobile US, Deutsche Telekom has now also increased its annual targets. However, according to traders, this was no longer really surprising. After a moderate start, T-shares rose by 2.1 percent in line with the market. As the best Dax value, the shares of the Kochboxenversender Hellofresh gained 9.3 percent.

With an increase of 5.4 percent, Carl Zeiss Meditec also recorded relatively significant price gains in the MDax after the presentation of business figures. According to figures from Vitesco, the sdaX of smaller stock market stocks rose by 7.6 percent. The automotive supplier was optimistic despite a predictably difficult second quarter.

At $ 1.0350, the euro slipped to another low since the beginning of 2017. After the stock market closed, $1.0410 was paid for the common currency. The European Central Bank (ECB) had set the reference rate at 1.0385 (Thursday: 1.0408) dollars in the afternoon, the dollar thus cost 0.9629 (0.9608) euros.

On the bond market, the Rex bond index fell by 0.04 percent to 136.71 points. The current yield remained at 0.74 percent on its previous day’s value. The Bund futures fell by 0.73 percent to 153.83 points after a rally lasting several days.