Dax current: Dax is trading in the black – Aixtron shares are rising in double digits

On Thursday it closed 0.3 percent higher at 25,382 points. The US stock exchanges ended trading inconsistently. While investors sold technology stocks, they bought into healthcare and consumer stocks that were considered defensive.

On Friday, investors will look at the inflation data for the euro zone. According to preliminary figures, the inflation rate reached 3.8 percent, its highest level in three years. In August it was still 3.2 percent. The European Central Bank (ECB) has already responded to the sharp rise in prices fueled by the oil price shock caused by the Iran war with two interest rate hikes this year.

The financial markets are expecting the ECB to raise interest rates again this year - possibly in December, after a break in interest rates at the meeting at the end of October.

The head of the US Federal Reserve (Fed), Kevin Warsh, is keeping a low profile ahead of the upcoming meeting at the end of October. He is not anticipating interest rate decisions, Warsh said on Friday at the annual meeting of the International Monetary Fund (IMF) and the World Bank in Bangkok.

There was already news from the banking industry on Thursday evening. The major Italian bank Unicredit has overcome another important hurdle on the way to taking over Commerzbank. The ECB is not opposed to increasing UniCredit's stake above the 30 percent threshold. Data on import prices and industrial production will be available from the USA later in the day.

Oil prices are falling slightly. Brent crude oil from the North Sea fell by 0.5 percent to $105.43 per barrel (159 liters). US oil WTI is trading 0.6 percent weaker at $97.44. However, on a weekly basis, both futures contracts have increased, with the price for WTI even increasing by 5.8 percent.

“Uncertainty in the Middle East and concerns about the reliability of oil supplies through the Strait of Hormuz are causing the market to price in a significant risk premium,” write analysts at ING. There needs to be some sort of agreement between the US and Iran to boost market confidence that higher oil exports from the region will continue.

The mood in German housing construction deteriorated in September due to rising interest rates. The barometer for the business climate fell to minus 25.1 points, from minus 22.5 points in August, as the Munich Ifo Institute announced on Friday in its survey.

In particular, companies were more skeptical about the business prospects for the coming months; they assessed their current situation largely the same. “The ECB’s interest rate increase is likely to have dampened confidence in housing construction,” said Ifo survey chief Klaus Wohlrabe. “The prospect of higher financing costs again is putting a strain on the industry.”

At the same time, however, the number of building permits for apartments in Germany also increased in August. It increased by 6.8 percent or 1,300 compared to the same month last year to 20,600, as the Federal Statistical Office announced on Friday.

From January to August, the authorities gave the green light for the construction of 169,400 apartments in new and existing buildings. That is 12.1 percent more than in the same period last year. Higher interest rates and material costs had deterred many builders in previous years.

Aixtron: At the chip system manufacturer Aixtron, based in Herzogenrath, the business recovery continued in the third quarter. JPMorgan analysts said the orders were supported by strong demand in the optoelectronics business. The papers gain six percent.