FRANKFURT (dpa-AFX) – On the last trading day before Christmas, the German stock market appeared quiet and sluggish. In the afternoon, the DAX was down 0.01 percent at 19,881.89 points. The MDAX rose by 0.07 percent to 25,567.44 points. The Eurozone leading index EuroStoxx 50 fell by around 0.1 percent.
Last week, following a disappointing interest rate forecast from the US Federal Reserve, the Dax recorded several days of losses in a row and fell to its lowest level since the beginning of December on Friday. Nevertheless, the annual balance of the German leading index is outstanding at almost plus 19 percent.
The initial clear price gains in VW shares (Volkswagen (VW) vz) following an agreement in the collective bargaining dispute at Volkswagen did not last long. While the shares had risen by 1.6 percent at the opening of Xetra trading to a high since the end of October, they quickly turned downwards afterwards. With a recent loss of 3.2 percent, the car manufacturer’s shares were the biggest price loser among the 40 DAX stocks.
The people of Wolfsburg want to cut more than 35,000 jobs in a socially responsible manner by 2030. VW claims to save 1.5 billion euros per year by reducing labor costs. The group also promised new job security until 2030. Contrary to what has been feared, there will initially be no closure of entire plants. According to analysts, investors had hoped for more from the company’s restructuring.
The prospect of increasing military spending by the Western European NATO countries caused the shares of Rheinmetall, HENSOLDT and RENK to gain between 1.1 and 2.9 percent. NATO Secretary General Mark Rutte expects new pressure from future US President Donald Trump in the debate about the comparatively low defense spending of European alliance states such as Germany. “He will want us to do more,” said Rutte in an interview with the German Press Agency.
A conciliatory end to the year from Borussia Dortmund (BVB (Borussia Dortmund)) supported the share price. After the away win in the last Bundesliga game of 2024 at VfL Wolfsburg, the securities included in the SDAX increased by 1.6 percent. With 25 points and 6th place in the table, Dortmund are close to the coveted Champions League places.
The euro fell slightly and was last at $1.0392. The European Central Bank set the reference rate at $1.0390 on Friday.
On the bond market, the current yield rose from 2.22 percent on Friday to 2.23 percent. The Rex bond index (REX total price index) fell by 0.05 percent to 126.46 points. The Bund future lost 0.16 percent to 133.82 points./edh/men
— By Eduard Holetic, dpa-AFX —