On the great expiration day, the so-called Witches’ Sabbath, the Dax cannot keep his winnings. At market close on Friday, the German benchmark was 1% in the red at 15,490 points, after having occasionally gained as much as 0.8%. Stock market scholars saw the big expiration date with the expiration of futures contracts on stocks and indices on stock exchanges as the reason. In doing so, investors often attempt to move prices in a direction that is favorable to them. Therefore, there can be sharp price fluctuations even without news. In addition, it is the last trading day for the Dax with 30 index members. As of Monday, the first German stock exchange league will include 40 stocks.
At the top of the DAX, shares of automotive supplier Continental rallied 1.1%, a bit short of their recent price drop after the spin-off from drive tech specialist Vitesco. After a rather mixed stock market start on Thursday, its newspapers rose 5.1%.
The Biotest actions set off fireworks. The Hessian drug maker is sold to Spanish competitor Grifols. Chinese majority shareholder Creat has already sold its nearly 90 percent stake in the common stock to Grifols for 773 million euros. Grifols made a purchase offer of 43 euros per ordinary share and 37 euros per preference share to the other shareholders. Biotest ordinary shares gained 24.8% to 43.80 euros, preferred shares were quoted up 10.4% to 39.20 euros. After a positive comment from analysts, shares of car rental company Sixt climbed to the top of the S-Dax with a plus of 5.0%.
Hopes of easing corona restrictions in Britain for international travel have made actions in the travel industry desirable. The European industry index rose by 1.2%. In this country, Lufthansa papers as the best M-Dax value rose 2.6%, shares of airport operator Fraport registered a premium of 1.8%. The headlines of the world’s largest travel agency Tui posted a 6.2% increase.
US investors took no risk ahead of the Fed’s interest rate meeting next week. Of Dow jones closed 0.5% in the red at 34,585 points.