As trading resumed following the brief Christmas break, German stocks showed little movement on Friday. The DAX index edged up slightly, reaching 19,862.87, while the euro made modest gains against the U.S. dollar as the end of the year neared.
The banking sector saw positive momentum, with Commerzbank rising over 1%, and Deutsche Bank increasing by 0.5%. This was in part due to German Bund yields reaching a one-month high, a reaction to the rise in U.S. Treasury yields after a successful seven-year auction.
Conversely, Delivery Hero SE experienced a notable decline, with shares dropping by 6.5%. This occurred after Taiwan rejected Uber Technologies Inc.'s proposal to acquire Foodpanda's local operations in a $950 million deal, citing concerns that it would diminish market competition.
The material has been provided by InstaForex Company - www.instaforex.com
The banking sector saw positive momentum, with Commerzbank rising over 1%, and Deutsche Bank increasing by 0.5%. This was in part due to German Bund yields reaching a one-month high, a reaction to the rise in U.S. Treasury yields after a successful seven-year auction.
Conversely, Delivery Hero SE experienced a notable decline, with shares dropping by 6.5%. This occurred after Taiwan rejected Uber Technologies Inc.'s proposal to acquire Foodpanda's local operations in a $950 million deal, citing concerns that it would diminish market competition.
The material has been provided by InstaForex Company - www.instaforex.com