The German stock market swung on a recovery course on Friday. The leading Indexdb Dax made up some of its recent losses and rose 1.95 percent to 10,538.59 points by noon.
With 10,160 points, the Dax had dropped to its lowest level in five weeks on Thursday. So far, a weekly drop of more than three percent has been recorded.
For the MDax The medium-sized values rose on Friday by 1.42 percent to 23,320.11 points. The EuroStoxx 50, the leading index of the euro zone, rose by a good 1 percent.
Analyst Andreas Büchler from the stock market magazine Index Radar wrote: “You can rely on bargain hunters. Even minor setbacks by the Dax are repeatedly used on the market to increase purchases, which is a positive signal.” However, the fluctuations on the stock market that have recently risen again worried.
In the Dax, the recovery was led by car values. The industry had come under particular pressure in the wake of the recent economic pessimism. Preferred shares of Volkswagen (VW) climbed at the top of the indexby around five percent in height. The bargain hunters were not put off by the fact that the sales of Wolfsburg had come under severe pressure in April due to the Corona sales restrictions. This was not a surprise, of course. BMW papers ran after the dividend payment only optically.
Otherwise the music played in the second row, where positive business figures drove Gea and Varta’s shares. The battery manufacturer Varta started the new fiscal year robustly. The company confirmed the outlook for the current financial year. A stock exchange broker spoke of very good results and great reassurance that the group felt no further impairments from the Corona crisis. The papers rose by almost eight percent