After a subdued pre-Christmas trading period, the DAX barely budged, closing 0.11% higher at 16,706.18 points. Despite this, the week saw the index slump by about 0.3%. Medium-sized companies in the MDax also experienced a dip, with a 1.01% reduction to 26,943.60 points.
Many investors had already wrapped up their business before the festive season, leading to a further relaxation in market activity as we approach the year's end. The DAX has gained an impressive 20% since the beginning of the year.
The sporting goods sector took a hit on Friday, with Adidas and Puma facing significant losses following disappointing news from US rival Nike. Adidas dropped 5.3% in the DAX, while Puma slid 7.2% in the MDax. Nike had revised its sales forecast following its quarterly results.
Zalando was the day's biggest loser in the DAX, shedding 7.4%, trailing Adidas. The e-commerce giant has suffered a staggering loss of almost 36% since the start of the year.
In the MDax, Vitesco Technologies' shares suffered a precipitous 9.2% drop, as some investors felt Schaeffler's takeover offer was inadequate.
Schaeffler AG, an automotive and industrial supplier, recently improved its offer to acquire Vitesco Technologies to 94 euros per share, but some investors felt it fell short.
Klöckner & Co earned investor favours in the SDax due to its plans to dispose of parts of its European distribution business, resulting in a 5% premium.
The EuroStoxx index closed slightly lower before Christmas, with the French Cac 40 and British FTSE 100 barely stirred. The London market had already shut early in the afternoon. U.S. markets closed positively, with the Dow Jones Industrial Average and the technology-heavy Nasdaq 100 posting moderate gains during European trading hours.
The euro soared to its highest level since August, trading at around 1.1014 US dollars post-market hours after the European Central Bank (ECB) set the reference rate at 1.0983 (Thursday: 1.0983) US dollars in the afternoon.
Bond yields decreased from 2.00% to 1.99%, with the bond index Rex falling 0.05% to 128.68 points. The Bund future also saw a small increase, trading at 0.05% higher at 137.85 points.
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Enrichment Data: The query does not specify Vitesco Technologies or Stern.de, but it mentions Schaeffler AG, which is a different company listed on the DAX. According to the information provided, Schaeffler AG's shares experienced a significant decrease on January 22, 2025, due to a market downturn, with the stock price temporarily dropping by 20% to 3.69 euros[1]. There is no specific information about Vitesco Technologies or a mention of Stern.de in the provided sources.
To obtain accurate information about Vitesco Technologies, consult a different source or formulate a different query.
