FRANKFURT (dpa-AFX) - After stabilizing the previous day, prices on the German stock market edged slightly lower again on Friday. "The details of the Greenland deal were well received by the market," wrote portfolio manager Thomas Altmann of QC Partners. On Thursday, investors had been "buying on a large scale again" – with the highest trading volume among the 40 DAX stocks so far this year.
Now, things are moving at a slower pace: On Friday morning, the DAX slipped by 0.1 percent in the opening minutes of trading to 24,828 points. This keeps it clearly below the previous day's high of 24,937 points. At times during the week, the DAX had even dropped to almost 24,349 points and, since last week's record of 25,507 points, had lost 4.5 percent. The trigger was a tariff threat from US President Donald Trump, which has since been taken off the table.
The MDAX of mid-cap stocks also lost 0.1 percent on Friday morning, falling to 31,645 points, while the Eurozone blue-chip index EuroStoxx 50 dropped 0.4 percent. After hitting records last week and a subsequent correction, it had also recovered the day before.
At the bottom of the DAX, Adidas and BASF both saw their shares fall by just over two percent. The chemical group missed profit expectations with its key figures for the previous year. Meanwhile, Canadian bank RBC withdrew its recommendation for the sportswear manufacturer.
Defense stocks such as Rheinmetall, Hensoldt, and Renk also weakened. In the United Arab Emirates, representatives from Ukraine, Russia, and the USA are expected to discuss a possible end to the war on Friday. Defense stocks typically react negatively to new negotiation initiatives. Also in focus is the multi-billion euro IPO of Czech defense company Czechoslovak Group (CSG) in Amsterdam./ag/stk
