FRANKFURT (dpa-AFX) – A robust US labor market report for July revived interest rate concerns on Friday and weighed on the German stock market. The leading index Dax (DAX 40) fell by 0.65 percent to 13,573.93 points. The MDAX for medium-sized companies fell by 1.38 percent on Friday to 27,772.58 points.
For the first week of August, however, the Dax recorded an increase of 0.67 percent. The day before, the index had climbed to its highest level in almost two months. The stock market barometer has recovered strongly from the most recent low of just under 12,400 points in early July, driven above all by hopes of a not quite so firm one monetary policy in the USA.
Employment in the United States expanded much more than expected last month. In addition, the rise in average hourly wages exceeded analyst forecasts. This could increase the pressure on the US Federal Reserve to tighten interest rates more./la/he
