Stock exchange in Frankfurt - Dax hardly moves before Christmas
After an uneventful pre-Christmas week, not much happened on the DAX on Friday either. The leading German index had barely budged by midday and was down 0.04% at 16,680.14 points. The MDax of medium-sized companies lost somewhat more ground, falling 0.99% to 26,949.88 points. Heavy losses suffered by heavyweight Puma, among others, weighed on the index. The leading eurozone index EuroStoxx 50 fell 0.26 percent to 4513.14 points.
Investors in Germany had already been rather quiet in recent trading days. Most recently, the Dax was heading for a small loss for the past week - it would be the second week with slight losses after the rally that began in October. Since the stock market barometer reached its record high of 17,003 points in mid-December and then fell back slightly, the bottom line has hardly changed. This is also due to the fact that many market participants have already closed their books and gone on vacation.
When selecting stocks shortly before the end of the year, many investors in Germany had their sights set on those that have performed either very well or very poorly so far in 2023. Among the other individual stocks, sporting goods manufacturers stood out with significant losses following disappointing news from US competitor Nike. Adidas shares lost a good six percent, while Puma shares brought up the rear of the MDax with a similarly large drop.
Nike's financial quarter up to the end of November was unexpectedly weak. In addition, the American company's management had shocked investors the day before with its forecast for further sales growth.
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Source: www.stern.de
