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FRANKFURT (dpa-AFX) – In front of the eagerly awaited US labor market data, investors are waiting on Friday. The Dax (DAX 30) remained in the usual trading range of the past few days with a little changed start. With 12 573.18 points it was just 0.15 percent in the red in early trading. After the ups and downs around the mark of 12,600 points in the past few days, the leading index is heading towards a weekly plus of more than two percent thanks to the strong Monday.
“Investors currently do not agree on whether the stabilization of the global economy that has already begun after the corona shock can stand up to the re-emerging trade dispute between China and the USA,” said market observer Andreas Lipkow from Comdirect Bank. US President Donald Trump has recently targeted the Chinese video app Tiktok, which he sees as a “threat” to national security.
In addition to the ongoing topic of corona infections, investors are now looking excitedly to the USA, where the official labor market report for July will be coming in the afternoon. In Corona times, this is given very special attention. According to the latest report from service provider ADP, market observer Thomas Altmann from QC Partners sees no good signs: “If the official report also shows that the US economy hardly created any new jobs in July, that would be a bitter disappointment.”
The hanging game in Washington when tying up another aid package is also in view. The negotiations for a further Corona stimulus package have stalled again. In the meantime, US President Trump renewed his threat to simply enforce parts of the intended economic stimulus package through dispositions if there is no agreement in Congress.
Against this background, the MDAX also fell slightly in early Friday trading by 0.11 percent to 26,775.17 points. The EuroStoxx (EURO STOXX 50) was also around 0.1 percent lower.
The reporting season for companies, which had not been able to make a positive mark on the market the day before, is coming to an end at the end of the week. From the Dax family, only the SDax members SNP or Dr. Hönle fresh results. With deliveries of 1.6 and 0.6 percent, both stocks reacted rather negatively.
However, Deutsche Telekom was driven up by 2.7 percent in the Dax by the numbers of the US subsidiary T-Mobile US (T-Mobile (ex T-Mobile US)). Thanks to the takeover of smaller rival Sprint, their sales jumped 61 percent year-on-year, exceeding market expectations. The shares of T-Mobile US were also up in New York after hours.
Otherwise, the price movements were much piecemeal. With 1.7 percent among the DAX winners, the shares of Siemens mixed. With a new target of 148 euros, Commerzbank sees more price potential here than almost any other analysis company. In his study, expert Ingo-Martin Schachel judged the latest quarterly report to be outstanding – and now gives Siemens Energy a higher value ./tih/jha/