FRANKFURT (Dow Jones) – The German stock market went down on Friday. The DAX closed 1 percent lower at 13,921 points. After starting the week at 13,962, it delivered a stable performance over the past five trading days. The rising US interest rates have hardly burdened him so far. Rather, the globally positioned DAX companies benefit from the gradual ramp-up of the economy outside of Europe and the good demand from China. The impulses from the reporting season will be less in the coming week. But it will be exciting on Thursday when the European central bankers meet. If the last issue was the strength of the euro – it fell below $ 1.19 for a short time on Friday – rising interest rates are currently the main topic. A departure by the European Central Bank from its ultra-expansionary monetary policy is not an issue for a long time.
VW runs and runs
For days the share of VW has been heading north, now it has increased by a further 2.3 percent. After analysts had found positive words for the Wolfsburg-based e-mobility strategy in the past few days, the group has now spoken out. Volkswagen wants to accelerate the transition to electromobility. The core brand of the group wants to increase the sales share of pure electric cars in Europe to over 70 percent by 2030. So far, the goal has been 35 percent. In the USA and China, the company is aiming for an e share of more than 50 percent in the same period. Every year the core brand of the Wolfsburg-based group wants to bring at least one new battery-electric model onto the market.
RWE did well in the market with a premium of 1.7 percent. The share benefited primarily from a buy recommendation from Deutsche Bank. The agreement between Berlin and four nuclear power plant operators on compensation payments due to the accelerated phase-out of nuclear power also had a somewhat positive effect. Eon gained 0.7 percent.
The Nordex share closed 3 percent lower after a temporary gain. The analysts at the Metzler bank consider Nordex to be well positioned and the wind power company’s product to be very competitive. The analysts also point to an increasing market share in the land-based area, which has brought Nordex close to the two leading companies Vestas and Siemens Gamesa.
INDEX last +/-% +/-% YTD
DAX 13.920,69 -0,97% +1,47%
DAX-Future 13.942,00 -0,77% +2,08%
XDAX 13.946,32 -0,22% +2,03%
MDAX 30,716.51 -1.89% -0.26%
TecDAX 3.220,26 -1,54% +0,23%
SDAX 14.708,13 -1,92% -0,38%
last +/- ticks
Bund-Future 174,08 17
Index winners losers Rev. turnover million euros million shares previous day
DAX 9 21 0 4.145,1 89,8 84,6
MDAX 13 47 0 1,203.3 50.3 51.0
TecDAX 8 22 0 1.069,2 37,8 40,9
SDAX 9 59 2 300,9 13,7 14,0
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(END) Dow Jones Newswires
March 05, 2021 11:52 ET (16:52 GMT)
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