Frankfurt (dpa -AfX) – The German stock market has been weakened again at the end of the week. On Friday, the DAX lost 0.61 percent to 23,787.45 points, so he lost one percent on a weekly perspective. His plus since the beginning of the year is still almost 20 percent. The record high of 24,479 points a month ago has moved into a little further distance. The MDAX of the medium -sized values fell 0.35 percent to 30,280.91 points before the weekend.
“Customs uncertainty is back,” stated analyst Thomas Altmann from QC Partners. US President Donald Trump plans to enter into force further tariffs of 50 percent from next Wednesday if the European Union does not meet him in trade issues. Although it is possible to complete a last minute deal, Altmann emphasized. “However, many states will be exposed to higher tariffs in the coming week. And now it also includes the EU countries.”
Beyond the customs issue, there was no fresh impulses, especially since the US markets remain closed due to the US day of independence. “The stock exchange is in the middle of the summer hole,” commented Jochen Stanzl from the CMC markets. If a resistance is established in the DAX below the round brand of 24,000 points and at the same time there should be no reports of success in the trade conflict, Stanzl expects the first noticeable sales in the guiding index.
On Friday, the customs worries mainly burdened cyclists such as the car values. BMW, Mercedes-Benz (Mercedes-Benz Group (ex Daimler)), Porsche AG (Porsche) and Volkswagen (Volkswagen (VW) VZ) gave up between 0.6 and 1.2 percent. According to market observer Andreas Lipkow, the trade talks between the EU and the USA can be compromised, which will most likely be hit by the auto industry. Lipkow doubted that investors have already priced in this.
An additional damper was a weak order intake of the industry in May. After the recent relaxation, orders have fallen back. Siemens lost 2.4 percent at the end of the Dax (DAX), also Brennag (Brenntag SE), BASF and Airbus (Airbus SE) weakened more clearly than the leading index itself.
For the Rheinmetall shares (Rheinmetall), on the other hand, the DAX leader went up to EUR 1,755. JPMorgan analyst David Perry continues to see a lot of room for the papers after the recently interrupted record rally and increased his price target to 2,250 euros. This makes it one of the largest optimists on the market. Perry also screwed up his result estimates by 2030, but does not yet see that year as a highlight.
Vonovia (Vonovia SE), on the other hand, fell by 1.4 percent after an analyst gradation. The shares of the largest German real estate group are now continuing their latest consolidation after they have reached their highest level since February at the end of June. The analysis house van Lanschot Kempen turned its vote for Vonovia from a purchase to a sales recommendation.
Hugo Boss’s titles made it into the plus after a weaker start and won 4.0 percent as MDAX leader. The expansion of the major shareholder Fraser Group’s participation aroused new imagination. The businessman Michael Ashley is behind the British retailer. According to the evening before, the Frasers Group exceeded the threshold of 25 percent of the voting rights.
Jungheinrich (Jungheinrich) and DWS (DWS Group GmbHco) were one of the weakest values in the MDAX after negative analyst studies with course discounts of 1.1 and 4.5 percent. The analysis house exane BNP had gradually graduated from the forklift manufacturer’s shares on “neutral” and reduced the rating for the papers of the Fund subsidiary of Deutsche Bank (Deutsche Bank) on “Under Perperform”.
On European stage, the EuroStoxx gave 50 percent to 5,288.81 points. Ultimately, the leading indices hardly moved in Switzerland and London. The US exchanges are not traded on the “Independence Day” ./niw/stw
— from Nicklas Wolf, dpa-Afx —