Stock market: cryptocurrency Bitcoin with price jump, Dax in the plus

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Traders at Deutsche Börse:

The ECB's big interest rate move was expected.

The cryptocurrency Bitcoin increased significantly on Friday

Photo: Arne Dedert / dpa

One day after a significant interest rate hike by the European Central Bank, the Dax is expected to change only slightly.

The X-Dax as an indicator for the leading index signaled a small minus of 0.1 percent to 12,893 points on Friday, just under an hour before the start of Xetra.

This means that the leading German index will remain in its most recent range for the time being.

The start of the Eurozone benchmark index, the EuroStoxx 50, was unchanged.

The euro traded above par with the US dollar on Friday after the historical interest rate hike in the currency area.

Most recently, the common currency cost $1.0063, slightly more than the previous evening.

The European Central Bank (ECB) set the reference rate a little lower on Thursday at $1.0009.

"The effects of the ECB decision on the stock market remain manageable," stated Thomas Altmann from asset manager QC Partners.

Ultimately, the rate hike was expected.

As a result, the Dax had been able to free itself almost completely from the losses, some of which were significant, by the close of trading, with the positive impulses from Wall Street also helping.

The expert currently rated economic data from China as good news that could also help the local market at the end of the week: producer and consumer prices there rose less than expected in August.

"This gives the Chinese central bank leeway to provide more support for the ailing economy in the Middle Kingdom."

The specifications from Asia are suitably good.

Airbus disappointed with delivery figures

On the company side, analyst studies were the main focus on Friday morning.

The papers of the laboratory

strong growth of almost 4 percent , they benefited from a positive study by the private bank Berenberg.

The company had recently suffered from falling sales from Covid tests, and the share has lost almost 40 percent of its value since the turn of the year.

Berenberg analyst Charlotte Friedrichs is now hoping for a reassessment, which she refers to the solidly growing core business and the strong market position of the SDax company there.

Shares in

, on the other hand, came under pressure after the HSBC analysts canceled a buy recommendation.

shares could also be

in focus due to disappointing delivery figures in August.

The company will need to keep pushing if it is to meet its already-cut target for the year.

The fact that Airbus did not get any further orders in the past month was rated by a dealer in the morning as another small minus point.

At

, meanwhile, all eyes are on its subsidiary T-Mobile US, which has announced a share buyback program of up to around 14 billion euros.

Winning in the US

The US stock markets continued to gain somewhat after the mid-week recovery.

However, monetary policy and concerns about an economic downturn also dominated events on Thursday, as the slight losses in early trading showed.

The stock market was ultimately supported by gains in bank stocks, which benefited from the prospect of rising interest rates.

The leading US index

rose by 0.61 percent to 31,774 points.

The market-wide

went up 0.66 percent to 4006 points.

The tech-heavy

gained 0.50 percent to 12,321 points.

Economic data support in Asia

Wall Street gains and encouraging Chinese economic data are buoying Asian markets.

The Japanese Nikkei index and the

stock exchange each rose by more than half a percent on Friday to 28,234 points and 3259 points respectively.

Investors are relieved that US investors have not responded to Fed Chair

's recent comments with a sell-off , a stockbroker said.

This had reaffirmed the determination of the US central bank in the fight against inflation and announced further interest rate hikes.

Investors also took a positive view of the fall in inflation in China.

"This gives the People's Bank of China (PBoC) room for easy monetary policy," said HSBC economist Erin Xin.

According to state media, the government also wants to help the economy, which is weakening due to the corona lockdowns, with tax cuts, among other things.

Bitcoin with price jump

The digital currency Bitcoin rose sharply on Friday night.

The cyber currency was last listed on the Bitstamp trading platform at 20,650 US dollars, around 7 percent higher than the previous day.

The fluctuations in the crypto market have been even higher than the volatility in the stock market in the past few days.

The cryptocurrency has been under pressure since the beginning of the year.

Bitcoin hit a record high of $69,000 in November last year.

oil prices

Oil prices rose slightly on Friday.

A barrel (159 liters) of North Sea Brent was last traded at a price of 89.67 US dollars.

That was 52 cents more than the day before.

The price of a barrel of US West Texas Intermediate (WTI) grade rose 35 cents to $83.89.

Despite the slight recovery, oil prices are heading for a weekly loss.

Prices are currently hovering near multi-month lows.

While a barrel of Brent is about as low as it was last February, a barrel of WTI is paying the lowest it has been since January.

The background to the development is increasing fears about the economy, the strict fight of many central banks against high inflation and China's harsh corona policy.

With news agencies