Vonovia share is slowed down by the US job market report

Vonovia

The share of the housing group rose sharply on Friday – but initially it had looked even better.

(Photo: dpa)

Frankfurt The shares of the Bochum-based housing group Vonovia ended trading on Friday three percent up at EUR 24.01. The papers were the winners of the day in the leading German index Dax.

However, in the meantime it had to go out after an even stronger profit. At the top, the titles rose by five percent before they were slowed down by the unexpectedly robust US job market report.

Because the data give the US Federal Reserve little reason to raise interest rates more slowly and less sharply overall.

Since housing groups are considered to be particularly sensitive to interest rates, Vonovia shares made gains following the labor market data, having previously benefited from expectations of a more cautious monetary policy.

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The same happened to other titles in the industry. Aroundtown, TAG Immobilien LEG and Deutsche Wohnen were among the biggest daily winners.

More: How much are real estate prices falling? That’s what experts say

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