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Dax closes lower on expiration day – Varta and Adidas plunge

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Dusseldorf On the German stock market, the small expiration day on the futures market was the focus on Friday. The settlement price of just under 12,600 points at 1 p.m. was between the four largest Dax positions on the futures market. You could see that professional investors apparently tried to drive the Dax towards 12,600 points between 12 and 1 p.m.

The leading index finally closed 0.3 percent lower at 12,730 points, just 37 points below its closing level on Thursday. In the meantime, the Dax was listed significantly lower at 12,548 points.

According to Thomas Altmann of investment house QC Partners, it was unusual that the October expiry date caused so much excitement and market movement. Usually this is reserved for big expiration days at the end of a quarter, called the Witches’ Sabbath. Then additional futures contracts expire.

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