Stock exchange in Frankfurt - Dax with moderate gains
Supported by record highs on the US stock markets, the DAX made moderate gains in shortened trading on Friday. Xetra trading ends at 2 pm on the last trading day of the year.
Shortly after the start, the leading German index gained 0.31 percent to 16,753.56 points. It thus remains close to its record high, which it reached in mid-December at just over 17,000 points. The MDax of medium-sized companies rose by 0.16% to 27,109.16 points in the morning. With an increase of around 20 percent for the Dax and just under eight percent for the mid-cap index so far, both have had a very profitable year.
Expectations that key interest rates would soon fall again have fueled the stock markets on both sides of the Atlantic in recent weeks and driven them to record highs. By mid-December, however, the DAX had run out of steam, while in New York new record highs were reached the previous evening before the US stock markets ended trading with hardly any changes.
There was no price-moving news on individual stocks in the major indices on the German market. There was therefore little movement among the individual stocks in the Dax, with shares in car manufacturers leading and trailing the leading index: While BMW rose by 0.8 percent, VW fell by 0.4 percent. Over the course of the year, BMW is thus up slightly more than 21 percent. Volkswagen, on the other hand, is one of the losers of 2023 with a drop of 4 percent.
In the MDax, the shares of Delivery Hero were ahead on the day, up 2.3 percent. However, 2023, like 2021 and 2022 before it, was a poor year: at just over 44%, the food delivery company's shares were by far the worst-performing of the 50 stocks. Bringing up the rear in the mid-cap index this morning was K+S, down 0.7 percent. The fertilizer company can also look back on a very weak year with a drop of just over 22 per cent.
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The DAX's gains were partly due to record highs on US stock markets, with the exchange in Frankfurt on the main being the location. Germany's DAX and MDAX, which represent large and medium-sized companies respectively, had a profitable year, with the DAX increasing by around 20% and the MDAX by nearly 8%. One of the top performing shares in the MDAX was BMW, which saw a rise of over 21% this year. The trading of shares in Frankfurt ends at 2 pm on the last trading day of the year.
Source: www.stern.de
