The German stock market reacted to the economic high point of the week on Friday with prices falling slightly.
The report on the situation on the US job market around July dampened the mood in the early afternoon. The leading index Dax fell by 0.31 percent to 13,620 points after having hardly moved from the spot before.
Employment in the US expanded significantly more than expected last month. In addition, the increase in average hourly wages exceeded analyst forecasts. This could increase the pressure on the US Federal Reserve to tighten interest rates more.
For the first week of August, the Dax recorded an increase of around one percent. The MDax of medium-sized companies fell by 0.43 percent to 28,040 points on Friday afternoon. The Eurozone leading index EuroStoxx 50 lost 0.6 percent.
The quarterly figures of Deutsche Post were extremely well received on the stock exchange. The logistics group increased sales and earnings by double-digit percentages in the second quarter. With a plus of 4.5 percent, the share took the lead in the Dax. The Allianz papers were among the losers at the end of the Dax with minus 1.9 percent. Here the surplus of 1.7 billion euros was almost a quarter lower than a year earlier. Bayer shares widened the losses after the weak quarterly figures from the previous day, they lost 5.4 percent and were the bottom of the Dax. Zalando shares rose 3 percent to their highest level in two months.
The biggest loser in the MDax of medium-sized stocks was Rheinmetall with minus 8.6 percent. Here, a more cautious outlook on incoming orders in the armaments division weighed heavily on the papers.
The euro came under heavy pressure after the strong US jobs report, falling to $1.0173. The European Central Bank (ECB) had set the reference rate at $1.0181 the day before.
On the bond market, the current yield on German government bonds fell from 0.75 percent on the previous day to 0.68 percent. The Rex pension index rose by 0.05 percent to 137.11 points. According to the US labor market data, the Bund future fell by 0.85 percent to 156.83 points.