German stocks closed the week on the back foot on Friday as selling pressure in Software, Utilities and Media stocks weighed on the broader market. At the Frankfurt close the benchmark DAX index lost 1.94%, marking a new six-month low, while the mid-cap MDAX dropped 1.95% and the technology-focused TecDAX slipped 1.46%.
Within the DAX, the session's strongest performers were Heidelberg Materials AG (ETR:HEIG), which advanced 3.16% - gaining 5.25 points to finish at 171.30; Infineon Technologies AG NA O.N. (ETR:IFXGn), up 1.48% or 0.55 points to end at 37.65; and Brenntag AG (ETR:BNRGn), which rose 1.19% or 0.57 points to close at 48.48.
On the downside, E.ON SE (ETR:EONGn) led losses among DAX constituents, falling 4.22% or 0.82 points to 18.48 at the close. SAP SE (ETR:SAPG) declined 3.86% - down 6.18 points to 153.82 - and Zalando SE (ETR:ZALG) lost 3.53% or 0.80 points to finish at 21.89.
The MDAX also recorded a mix of moves among its largest decliners and gainers. IONOS Group SE (ETR:IOSn) was among the best on the index, rising 3.17% to 24.40. United Internet AG NA (ETR:UTDI) added 2.33% to settle at 27.20 and AUTO1 Group SE (ETR:AG1G) gained 1.06% to close at 15.22. By contrast, Bechtle AG (ETR:BC8G) tumbled 14.25% to 25.76, K+S AG (ETR:SDFGn) dropped 9.90% to 15.11 and Hensoldt Ag (ETR:HAGG) was down 5.81% to 74.55.
Technology names displayed similar divergence on the TecDAX. Elmos Semiconductor AG (ETR:ELGG) led gains with an 8.58% rise to 139.20, and SMA Solar Technology AG (ETR:S92G) climbed 7.03% to reach 39.30. IONOS Group SE (ETR:IOSn) again showed strength on the index, up 3.17% to close at 24.40. The laggards included Bechtle AG (ETR:BC8G), which was down 14.25% to 25.76, Ottobock SE & Co KgaA (ETR:OBCK) which fell 9.78% to 46.42 and Siltronic AG (ETR:WAFGn) which declined 6.46% to 52.10.
Decliners outnumbered advancers on the Frankfurt Stock Exchange by a wide margin, with 474 stocks lower versus 139 higher and 19 unchanged at the close.
Several individual stocks moved to noteworthy price milestones during the session. Shares of SAP SE (ETR:SAPG) slipped to 52-week lows, finishing at 153.82 after a 3.86% decline. Bechtle AG (ETR:BC8G) fell to five-year lows, down 14.25% or 4.28 to 25.76. SMA Solar Technology AG (ETR:S92G) reached a 52-week high, rising 7.03% or 2.58 to 39.30. Ottobock SE & Co KgaA (ETR:OBCK) moved to all-time lows, falling 9.78% or 5.03 to 46.42.
Volatility for the DAX increased notably on the session. The DAX volatility index, which gauges implied volatility on DAX options, climbed 11.33% to 29.30 - a new six-month high.
Commodities displayed mixed direction at the close. Gold futures for April delivery eased 0.34% - a decline of 15.50 - to trade at 4,590.20 per troy ounce. In oil markets, the May crude contract rose 2.39% or 2.28 to $97.83 a barrel, while the May Brent contract gained 1.43% or 1.55 to $110.20 a barrel.
FX and dollar measures were little changed. The euro against the dollar (EUR/USD) was effectively flat, listed as unchanged at 1.16, and EUR/GBP was also shown as unchanged at 0.87. The US Dollar Index futures were up 0.32% at 99.38.
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