FRANKFURT (dpa-AFX) – The DAX continued its price rally at the end of the week. On Friday, the leading German index climbed above the 20,400 point mark for the first time in early trading, but was unable to maintain it and ultimately went into the weekend 0.13 percent higher at 20,384.61 points. It was the seventh consecutive day of winning. His weekly gain is almost four percent and his annual profit is almost 22 percent.
However, the record hunt is more a credit to the internationally positioned companies in the DAX than a quality assessment for Germany as a location, commented Dekabank chief economist Ulrich Kater with a view to the weakening German economy. The MDAX, which is more “close to home,” has therefore not developed so well since the beginning of the year and is staying put. On Friday, the index of medium-sized stocks rose by 0.66 percent to 27,310.86 points.
The US labor market data published in the early afternoon played no role on the German stock market. In the United States, significantly more new jobs were created than expected in November after the previous month’s dip due to hurricanes and strikes. However, the unemployment rate rose surprisingly. “The US Federal Reserve will certainly not like the fact that wage growth has accelerated again,” wrote Thomas Altmann from QC Partners. However, the Fed’s interest rate cut before Christmas, which investors have longed for, is still possible. Next week the European Central Bank (ECB) will make its interest rate decision./niw/he