Frankfurt Stock Exchange: DAX remains close to 16,000 points on Black Friday

The DAX is slowly moving towards its record high.

At the start of Friday trading on the Frankfurt Stock Exchange, the DAX was down slightly by 0.04 percent to 15,988.19 points. The German leading index is currently up 0.09 percent to 16,008.61 points.

The day before, the stock market barometer rose above the round mark of 16,000 points for the first time since the end of August and closed just below it.

Shortened trading day in the USA

Even on the last trading day of the stock market week, there will likely be no major impulses on the German stock market on the other side of the Atlantic. The day before, trading venues in the USA were closed for the Thanksgiving holiday. On the most important shopping day of the year, “Black Friday”, trading on the US stock exchanges is only closed until 7 p.m. CET.

Year-end rally started

The year-end rally has begun, headlined analyst Holger Struck from hslivetrading, looking at the profitable month of November so far. After all, the DAX recorded an increase of eight percent in just over three weeks. He is a good three percent short of the record high of 16,529 points at the end of July.

Economic data on the agenda

Economic data is likely to come into focus at the end of the week. The Munich ifo Institute published its business climate index in November. This has brightened slightly, due to both the assessment of the current business situation and business expectations. The ifo business climate index rose to 87.3 (October: 86.9) points. It was the second increase after five consecutive declines. Economists surveyed by Dow Jones Newswires had forecast an increase to 87.5.

The Federal Statistical Office also presented detailed results on gross domestic product (GDP) in the third quarter. The slump in consumption and the weakening global economy slowed down the German economy in the summer. The gross domestic product (GDP) fell by 0.1 percent in the third quarter compared to the previous quarter after price, season and calendar adjustments, as the Federal Statistical Office announced on Friday in Wiesbaden. The authority thus confirmed an initial estimate. Inflation, which continues to be comparatively high, is putting a strain on consumers.

Editorial team / dpa-AFX / Reuters / Dow Jones Newswires