Dax gains: recovery after losses - Thyssenkrupp in focus

Dax gains: recovery after losses - Thyssenkrupp in focus

The German stock market recorded a slight recovery from previous sharp losses on Friday. The Dax rose by 0.80 percent to 18,060.61 points by the early afternoon. This shows signs of a weekly gain after three consecutive weeks of losses. The MDax of medium-sized companies also recorded an increase of 0.34 percent to 26,132.94 points on Friday. The mood at the end of the week brightened overall as the EuroStoxx 50, the euro zone's leading index, rose by 0.8 percent.

The market received positive momentum from the US, particularly from technology industry heavyweights whose quarterly reports resulted in reassuring behavior. Despite robust economic data from the USA, which did not raise any new concerns about inflation, the US bond market remained a point of concern for investors. The rising yields on ten-year bonds at 4.7 percent could affect the recent recovery on the stock market and make further records on the DAX more difficult.

In terms of individual stocks, Thyssenkrupp recorded an increase of over nine percent after agreeing with the Czech billionaire Daniel Kretinsky to enter the weak steel division. In contrast, wafer manufacturer Siltronic gave a more pessimistic forecast for the current year due to continued weak demand. Delivery Hero, on the other hand, saw a decline of almost 17 percent due to concerns about Chinese competition in Saudi Arabia.

Furthermore, the SDax small cap index recorded significant price jumps, with Flatexdegiro's shares at the top rising by almost 24 percent. The euro was trading at $1.0714 in the afternoon, while the current yield on the bond market rose to 2.64 percent from 2.61 percent the day before. The Rex bond index, however, fell by 0.23 percent, while the Bund future rose by 0.29 percent to 130.07 points.