The Dax remained in the green on Friday after an already positive start to the trading day until midday. At around 12:30 pm, the leading index was calculated at around 23,855 points, 0.7 percent above the previous day’s closing level.
At the top of the list, Bayer was ranked. Previously, there was a report that the pharmaceutical company was aiming for settlements in glyphosate lawsuits in the United States and even considering a Monsanto bankruptcy.
“Few trading impulses seem to be working in favor of the sellers and are causing a general willingness to sell to decrease” said market analyst Andreas Lipkow. “Investors on the buy side are positioning themselves very selectively towards the end of the week, in the stocks of Bayer, Rheinmetall and SAP. On the sell side, the utility and bank stocks are standing out.”
“Overall, the market trend is sideways with a slightly upward trend. Euphoria or bullish sentiment looks different. The market breadth also reflects this impression, as only 23 of the Dax 40 values are participating in the current market movement. Market participants are now waiting for the still pending US macro data in the afternoon. The US pre-market is currently in the profit zone” said Lipkow.
The European community currency was slightly weaker on Friday afternoon: One euro cost 1.1189 US dollars and one dollar was correspondingly for 0.8937 euros.