On Friday the German stock index finished up again. At the Xetra closing bell the DAX was 24,721 points, up 0.9 % from the previous session. On a weekly basis the index still ended as a net gain of roughly 0.7 %, after a series of highs and lows.
Christine Romar from CMC Markets commented that the shock waves in the crypto market have not remained isolated from the stock markets. “Forced liquidations in the crypto arena generate selling pressure elsewhere and pull shaky positions out of the equity market” she said. “Such a purge is healthy, as it places the ongoing bull run on a stronger footing”.
Bitcoin, the “mother of all cryptocurrencies” showed a dramatic turnaround on Friday. Within one day the digital asset added about 10 %.
In the automotive sector, the parent company Stellantis, which owns Opel, issued a profit warning. The group is writing off €22 billion against its electric‑vehicle strategy and is selling a battery plant for a symbolic $100. Romar noted that this headline reminds investors that the transformation will take time and that shares of Volkswagen and its affiliates will still need to wait for a sustained recovery.
Across the globe, investors have remained highly nervous. They can no longer rely on a swift reversal of a U.S. presidential‑era policy shift-something that has not triggered the current correction. This makes the outlook for the rest of the year highly volatile. Romar added that markets and investor sentiment need to cool somewhat before they can continue to climb.
Gold prices rose sharply on Friday. One fine ounce fetched $4,933-a 3.3 % gain-equivalent to €134.21 per gram.
The euro was stronger in the afternoon trade. One euro was worth $1.1818, while one U.S. dollar traded at €0.8462.
