The DAX started trading down 1.04 percent at 13,072.92 points. The leading index also remains on red terrain over the course of the year.
Investors are taking profits after the positive course of the week so far. After the leading index had climbed over 13,200 points the day before, it fell below 31,000 points at times on Friday. This means that the DAX will remain resilient, emphasized market analyst Jochen Stanzl from CMC Markets. The weekly plus is still around three percent.
US big tech disappointed
Investors’ disappointment with the quarterly reports presented by Apple and Amazon in the USA drove the stock exchanges in Europe into parade. After tech heavyweights such as Alphabet, Microsoft and Meta Platforms had already disappointed, hope lay in Amazon and Apple. However, both provided meager numbers after the US close of trade.
Reporting season also continues in Germany
In Germany, all eyes on the DAX are on Airbus SE, Volkswagen and Deutsche Telekom. Dealers highlighted the planemaker’s better-than-expected third-quarter free cash flow and the consequent raised full-year target for the metric. Investors pay close attention to this figure because it is important for the dividend.
The T-Aktie benefits from the fact that the US mobile communications subsidiary of the Bonn-based group again raised its growth forecasts after strong quarterly figures. VW, on the other hand, give up in DAX trading. Outside the DAX family, the shares of the subsidiary Porsche AG and the holding company Porsche SE lose. The figures and prospects of the car manufacturers showed light and shade.
In the MDAX, ProSiebenSat.1 dropped and brought up the rear there, because the television company cut its annual forecast after weak quarterly figures. RTL were pulled along and also lost. Higher prices and the weak euro also gave the lubricants manufacturer FUCHS PETROLUB a boost in the past quarter, and the wafer manufacturer Siltronic also impressed with strong figures and even raised its annual targets.
Meanwhile, CompuGroup Medical is on the decline in the SDAX. The software provider, which specializes in medical practices and hospitals, also became more pessimistic after projects had been postponed for the current year. The start of the e-prescription in Germany is dragging on.
Editorial office finanzen.net with material from dpa (AFX)
Image sources: Julian Mezger for Finanz Verlag