Europe's banks are well in the favor of investors after the European Central Bank's (ECB) historic rate hike of 0.75 percentage points in stock market trading on Thursday.
The European sector index extends its gains to a plus of 1.3 percent.
Commerzbank's share price rose by 5.0 percent, while Deutsche Bank's stock rose by 3.4 percent.
The euro gave way slightly and is hovering around the $1,000 mark, the so-called parity.
On the bond market, yields on ten-year federal paper rose to 1.62 percent.
The yield difference (spread) between them and their Italian counterparts narrows slightly to 2.21 percentage points.
The Dax lost 0.7 percent to 12,831 points.
The index had already been lower before the ECB interest rate decision.
For Jörg Zeuner, chief economist at Union Investment, the interest rate hike by the ECB underscores the seriousness of the situation.
He pointed to rising energy prices, which are driving inflation to new heights.
This is putting massive pressure on the ECB and forcing it to raise interest rates faster and more vigorously than it could have dreamed of at the beginning of this year, said Zeuner, chief economist at the fund company of the Volks- und Raiffeisenbanken.
"It's better for the economy if the ECB raises interest rates quickly, rather than stretching out the braking maneuver and uncertainty for a long time," said Michael Heise, chief economist at asset manager HQ Trust.
According to him, together with an expected weak economy, rising interest rate expectations speak for a volatile development of the stock markets.
New course fantasy will probably only arise when it becomes foreseeable that the inflation rates will drop significantly.
"That can probably be expected around the turn of the year," expects Heise.