The Dax rose slightly over the weekend. However, the stock market index could not keep the strong start of the day. The reason for the boost was impulses from China.
With a tailwind from the Asian stock exchanges, the German stock market rose on the last trading day of the week. However, high initial profits were not maintained. The leading Dax index fell back in the wake of the weakening Wall Street and still saved a gain of 0.72 percent to 13,981.91 points. On a weekly basis, however, there was a loss of 0.3 percent.
On a weekly basis, this results in a loss of 0.3 percent. The MDax of medium-sized companies closed 0.57 percent higher at 29,199.95 points on Friday.
Positive impulses were initially brought on Friday by the news that China has lowered an important reference interest rate for long-term loans. The Dax overcame the mark of 14,000 points in the first half of the day and temporarily traded up to two percent higher.
Inflation is weighing on the markets
The EuroStoxx 50, as the leading barometer of the eurozone, closed 0.45 percent higher at 3,657.03 points, resulting in a weekly loss of around 1.3 percent. In Paris, the benchmark Cac 40 index remained up 0.20 percent at 6,285.24 points on Friday. London’s FTSE 100 gained 1.19 percent to 7,389.98.
Overall, the stock markets continue to be under the impression of high inflation and an impending recession. “In view of the abundance of current challenges, a rapid brightening of the major weather situation seems unlikely,” warned chief strategist Bernd Hartmann from VP Bank.