Renewed losses on the stock market: The fear of an ebbing flood of money from the US Federal Reserve weighed on the Dax again at the end of the week. The Dax fell 0.7 percent on Friday morning and fell below the 15,700 point mark. On Thursday, the German benchmark index had already lost 1.3 percent to 15,765 points. The MDax, which had climbed to a record high of over 36,000 points on Wednesday, also gave way. Investors expect the US Federal Reserve to turn interest rates this year.
On a weekly basis, the Dax indicates a minus of around two percent. He has lost sight of the record high of 16,030 points he reached a week ago.
Apart from German producer prices, there are no more trend-setting economic indicators to come before the weekend. The company’s diaries are also largely empty. In the USA, the Dow Jones, Nasdaq and S&P had reduced their losses after a weak start and each closed little changed. In Asia, however, the indices continued to decline on Friday. Japan’s Nikkei closed at its lowest level in 8 months, and the Shanghai and Beijing exchanges lost around 2 percent each.
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Auto values remain under pressure
In the auto sector, Volkswagen’s preferred shares continued their recent losses and fell by around two percent at the end of the DAX. Because of the shortage of semiconductors, production at the main plant in Wolfsburg will only start to a limited extent after the summer break. Short-time work is requested. The day before, a report about an upcoming production cut at the Japanese car maker Toyota due to the lack of semiconductors had generally weighed on car values.
At the end of the MDax, Lufthansa’s share certificates fell by 2.6 percent. The papers have been on a downward trend since the beginning of March. At the beginning of the week, the announcement that the German state intends to reduce its equity stake additionally weighed on the price. There is also a capital increase in the room. The corona infection numbers also scare off investors. The shares of the airport operator Fraport fell by almost 2 percent.
In demand were stocks that were considered defensive, for example from the utilities sector. So the Eon papers rose by 0.3 percent. With a premium of 1.1 percent, only the shares of RWE were better in the Dax. They were helped by a positive comment from JPMorgan Bank.
Nikkei in Japan falls to 8 month lows
Sales pressure comes mainly from Asia. The Asian stock exchanges continued to fall on Friday. The fear that the US Federal Reserve would gradually close the money locks unsettled investors. “The recent weakness in Asian equity markets is partly due to the strengthening of the US dollar as the market prepares for the gradual reduction in monetary stimulus,” said Fan Cheuk Wan, head of private banking investments for HSBC in Asia.
The Nikkei Index, which comprises 225 values, was 0.8 percent lower at 27,081 points. It’s the lowest level since December. The broader Topix index fell 0.4 percent and stood at 1890 points.
The Shanghai stock exchange was 1.3 percent in the red. The index of the most important companies in Shanghai and Shenzen lost 1.9 percent.
In Asian foreign exchange trading, the dollar was almost unchanged at 109.75 yen, up 0.1 percent to 6.5013 yuan. In relation to the Swiss currency, it was quoted 0.2 percent lower at 0.9171 francs. At the same time, the euro rose 0.1 percent to 1.1683 dollars and fell 0.1 percent to 1.0717 francs. The pound sterling lost 0.1 percent to $ 1.3627.
US stock exchanges hardly changed
The US stock markets ultimately barely moved on Thursday after volatile trading. The Dow Jones Industrial was last listed 0.27 percent lower at 34,867 points. The market-wide S&P 500 fell 0.1 percent. The technology-heavy Nasdaq 100, on the other hand, made the step into the profit zone with 0.1 percent, after initially having given way.
Stock marketers cited the increasing number of corona cases in the USA and concerns about a possible tightening of monetary policy by the US Federal Reserve as a burden. As the minutes of the latest Fed meeting published on Wednesday shortly before the stock market closed in the US, the members of the central bank were divided on when the bond purchases to support the economy should be reduced. The majority, however, were of the opinion that they should start this year.
Bitcoin rises to just under $ 48,000
Bitcoin cryptocurrency continued its recovery on Friday. In the morning, the world’s oldest and best-known digital currency was quoted on the Bitstamp trading platform at $ 47,500, approaching the round mark of $ 50,000 again. The fluctuations in cryptocurrencies have been enormous for a few weeks. Last Saturday, Bitcoin climbed to around $ 48,000, its highest level since mid-May. Six weeks ago, Bitcoin was still trading below the $ 30,000 mark.
Oil prices stop falling
Oil prices have stabilized after the most recent downturn. A barrel (159 liters) of North Sea Brent cost $ 66.60 on Friday morning. That was 15 cents more than the day before. The price of a barrel of the American WTI variety rose by 40 cents to $ 64.09.
Corona worries and a dollar strength had generally weighed heavily on raw material prices and also sent oil prices down by Thursday. On a weekly basis, the price of crude oil from the North Sea fell by more than four percent. The US oil price has plummeted over five percent since Monday.