A rather weak week on the stock market ended on Friday with slight price gains. The flagship index Dax closed up 0.3 percent to 15,808 points, but lost a good percent on a weekly basis. To justify the weakness of the past few days, traders and analysts have pointed to tighter monetary policy in the United States going forward, an increase in the number of corona infections, and indications of an economic slowdown.
Hardware bottlenecks and higher procurement costs are now a burden for the vast majority of businesses. For example, Japanese automaker Toyota spooked investors on Thursday with drastic production cuts due to the current chip shortage. As a result, car values suffered on Friday for the second day in a row. The European sector index lost 1.4%. Volkswagen stocks were among Dax’s biggest losers with a minus 1.0 percent, as was BMW with a minus 0.6 percent. Due to the semiconductor shortage, production at VW’s main plant in Wolfsburg will only start to a limited extent after the summer break. Part-time work is required.
One of M-Dax’s weakest values was Lufthansa stock, which lost 2.7% in value. Earlier this week, the announcement of the German state’s intention to reduce its stake in the capital also weighed on the newspapers, which were already trending downward. There is also a capital increase in the room. The number of corona infections has also scared investors. Shares of airport operator Fraport fell 2.3%. Stocks considered defensive, for example from the utilities sector, were sought after. With a premium of 2.4%, RWE shares were even Dax’s top favorites. They were helped by a positive comment from JPMorgan Bank.
Eon papers rose 0.2%. The price gains of technology stocks allowed the US stock markets to recover slightly. the Dow jones was 0.7% higher at 35,120 points at the close of trading. The Nasdaq technology stock index gained 1.2%. However, fears of an impending strangulation of central bank aid and a faltering economic recovery clouded investor sentiment.