On the last trading day of the week, the German stock market also increased – with a tailwind from the Asian stock exchanges.
China plans to mitigate the economic slowdown by reducing a key long-term borrowing rate benchmark. This was already boosting prices in the Far East: the leading index rose by two percent in Shanghai and by three percent in Hong Kong.
Around noon, the German leading index Dax gained 1.8 percent to 14,131 points. On a weekly basis, there is an increase of 0.7 percent. The MDax for medium-sized companies recently went up 2 percent to 29,618 points. The leading eurozone index, the EuroStoxx 50, was up 1.5 percent.
The papers of the former Corona profiteers Hellofresh, Delivery Hero and Zalando were at the top of the Dax. They gained up to 6.7 percent. In the trade, it was said that after the high losses in the last six months, bargain hunters could appear here again and again.
Telefonica Deutschland, LEG Immobilien and Deutsche Pfandbriefbank were among the stocks trading lower on Friday with dividend discounts.
Deutsche Bank’s canceled buy recommendation weighed on Instone Real Estate in the SDax of the smaller stocks by 3.3 percent.
The Metro share rose in price by 3 percent. A report by the Indian business newspaper was well received by investors, according to which the retail group could part with its business in India for billions.