Ahead of the eagerly awaited US labor market report, the German stock market continues to show its friendly side on Friday.
Frankfurt / Main - The Dax was quoted around noon with 0.40 percent up at 15,666.49 meters.
Investors no longer want to lean too far out of the window in front of the monthly employment data, because the labor market report is an important yardstick for the future monetary policy of the US Federal Reserve.
The MDax of the medium-sized values advanced by 0.37 percent to 34,381.96 points.
In Europe, meanwhile, the initial profits melted somewhat, the EuroStoxx 50 as the leading index of the Eurozone recently increased by 0.21 percent to 4087.61 points.
After the volatile past trading days, the Dax is now slightly in positive territory on a weekly basis thanks to its recent recovery.
Overall, however, the German benchmark index has not moved its bottom line for weeks.
Also on the US stock exchanges, where the record hunt in the broad-based S&P 500 last continued, a rather calm start is expected before the publication of the important labor market data.
Experts expect the world's largest economy to have continued to recover from the consequences of the pandemic in June.
However, if the data is unexpectedly good, there is also the risk that inflation and interest rate worries will unfold again in the market.
A particular focus is on the development of wages and salaries.
"As with the last labor market reports, a medium-quality report would be the best option for the stock exchanges," believes portfolio manager Thomas Altmann from asset manager QC Partners.
This would have to be good enough "to demonstrate a positive development in the US economy. But at the same time not so strong that the calls for an earlier rate hike get louder," said Altmann.
In the Dax, the shares of the food supplier Delivery Hero continued their recovery and moved to the top of the index after the US bank JPMorgan raised their target price. Analyst Marcus Diebel praised the rating, which is now attractive in an industry comparison. The profits of the car manufacturers, which were initially in demand across Europe because of their strong sales figures, declined, while Volkswagen advantages have recently made the most significant progress with a premium of half a percent.
At the end of the index, dialysis specialist Fresenius Medical Care (FMC) came under pressure and lost around 1.6 percent after news of the annual discussion about the reimbursement rates in the state health system in the USA.
One trader said the proposed increase in payments was less than hoped and is likely to provide less tailwind than in previous years.
In the MDax, Evonik suffered from a negative vote from the US investment bank Goldman Sachs and, as one of the worst performers, lost almost two percent.
Analyst Georgina Iwamoto spoke out in favor of selling the shares after she had previously given a buy recommendation.
After a share placement by existing shareholders at 109 euros each, Flatexdegiro gave way, they slipped by more than two and a half percent. The online broker, which is listed in the SDax small cap index, is hoping to be included in the MDax by the end of the year at the latest thanks to the increasing free float. dpa