FRANKFURT (Dow Jones) — Extreme fluctuations characterized trading on the German stock market this week. On Friday, too, the DAX traded within a range of over 400 points. In the end, the index closed 1.3 percent lower at 14,768 points. A week ago, the DAX said goodbye to Friday trading at 15,427 points. With the Silicon Valley Bank (SVB) and Credit Suisse as the names currently present, there is talk of a banking crisis. The fact is that trust is a priceless commodity for a bank. If it’s lost, customers move on. So it was with the US bank SVB. And for some time now, Credit Suisse has been struggling with its own wrong decisions, which are damaging customer trust. The Swiss National Bank supports the bank with billions, which initially bought time. All this unsettled the investors, who therefore reduced the risk before the weekend. Banks were again among the losers, with Deutsche Bank closing 1.5 percent lower and Commerzbank falling 3.5 percent.
Advertising
Trade oil, gold, all commodities with leverage (up to 30) via CFD (starting at €100)
Participate in price fluctuations in oil, gold and other commodities with leverage and small spreads! With only 100 euros you can trade through leverage with the effect of 3,000 euros of capital.
Investors trust gold and bonds
Gold prices are on course for their best week since mid-November last year as investors look for safe haven assets. The turmoil in financial markets this week has helped investors regain interest in gold, analysts and traders said. “Incidents of systemic risk can prompt investors to seek safety and allocate a portion of their currency holdings to gold,” said Krishan Gopaul, senior analyst at the World Gold Council. Gold rose a good 2 percent to $1,958 an ounce. But bonds were also sought after as safe havens and closed in positive territory. In contrast, the yield on Bunds with a term of ten years fell by 15 basis points to 2.09 percent.
Vonovia saves on the dividend
Vonovia fell 2.2 percent. The dividend announcement caused disappointment. The group intends to pay out EUR 0.85 per share certificate for the past reporting year, the expectation was higher. However, the development should not come as a complete surprise to investors. In the past few days, numerous real estate companies had reduced or completely canceled their dividends.
Investors in the IT service provider Bechtle (+1.3%) can look forward to a significantly higher dividend, which is expected to rise by 10 cents to EUR 0.65 for the past year. This is the thirteenth increase in a row.
===
INDEX last +/- % +/- % YTD
DAX 14,768.20 -1.3% +6.07%
DAX future 14,935.00 -1.4% +7.23%
XDAX 14,778.73 -1.7% +6.56%
MDAX 26,446.93 -2.2% +5.29%
TecDAX 3,226.19 -0.6% +10.44%
SDAX 12,772.54 -2.1% +7.10%
last +/- ticks
Bund future 137.94 +207
Index winners losers and turnover million euros million shares previous day
DAX 6 34 0 9,587.4 222.0 144.1
MDAX 7 42 1 1,581.2 95.2 50.6
TecDAX 8 21 1 2,041.9 63.7 30.5
SDAX 10 60 0 338.7 18.8 10.7
===
Contact the author: [email protected]
DJG/thl/cln
(END) Dow Jones Newswires
March 17, 2023 12:48 ET (16:48 GMT)
Leverage must be between 2 and 20
No data