FRANKFURT (dpa-AFX) – The Dax (DAX 40) largely gave up its gains on Friday after a friendly start. Despite positive indications from the US stock exchanges and also from Asia, “the German share index is having a hard time,” as capital market strategist Jürgen Molnar from RoboMarkets states. The 13,000 point mark is proving to be a high hurdle, increasing the likelihood that he will go into the weekend below that psychological barrier.

    In early trading, the leading index gained 0.15 percent, 12,932.11 points, which means that a loss of almost one percent is emerging on a weekly basis. The MDAX of medium-sized stocks increased by 0.24 percent to 26,436.57 points in the morning. The Eurozone leading index EuroStoxx 50 (EURO STOXX 50) rose by 0.65 percent to 3458.54 points.

    The week that is coming to an end had started strongly for the stock exchanges. But after an initially significant recovery, the profits in the Dax quickly pulverized again. On Thursday, the leading index finally fell to a new low since early March. “The stock market is a roller coaster at the moment,” said Thomas Altmann from QC Partners, commenting on the nervousness among investors. However, he is hoping for a bottoming out soon, as more and more investors are pulling the sails in the face of the losses. More and more stocks are changing “from shaky to strong hands”, which speaks for a temporary end to the bear market.

    Among the individual values ​​in the Dax, the shares of the online fashion retailer Zalando stood out negatively, with a loss of almost 16 percent. Zalando fears a prolonged lull in demand due to the recent clouded economic prospects. Therefore, the annual targets were slashed the night before and for 2022, at best, a small increase in sales is expected. Some analysts promptly responded with price target reductions. For their part, investors in other former winners of the corona pandemic sold shares. Accordingly, in the wake of Zalando, Delivery Hero, HelloFresh and ABOUT YOU also lost a lot. The latter also fell to a new record low.

    Bank stocks also continued to fall – despite double-digit percentage losses the previous day. Deutsche Bank (Deutsche Bank) lost 0.9 percent and Commerzbank 2.7 percent. Investors are concerned that companies and consumers will find it increasingly difficult to repay loans in the event of a recession.

    Deutsche Post (Deutsche Post) shares, on the other hand, rose 0.8 percent and benefited from the annual report of US competitor FedEx. This achieved significantly more sales in the most recent financial quarter and the operating profit also rose. Fedex and competitors such as UPS (United Parcel Service) and DHL benefited greatly from the boom in online orders during the pandemic