Dusseldorf After the strong price gains in the past few days, investors on the German stock market are playing it safe and cashing in. The Dax is 0.5 percent lower on Friday afternoon at 15,430 points.
The MDax of medium-sized companies fell by 0.4 percent to 29,640 points on the last trading day of the week. The EuroStoxx 50, the leading index in the euro zone, is 0.1 percent lower. On Thursday, Europe’s stock markets reached their highest level in around twelve months.
They reacted to the decisions of the US Federal Reserve and the European Central Bank (ECB) with significant price gains. They continued to raise interest rates. However, investors seem to have interpreted some statements by Fed Chair Jerome Powell and his ECB counterpart Christine Lagarde to mean that the current cycle of rate hikes is fading.
However, the positive mood was clouded by weak quarterly figures from the tech companies Apple, Amazon and Alphabet. Stocks are lower again in pre-market US trading.
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