FRANKFURT (dpa-AFX) – The Dax moved a little further away from the 20,000-point mark on the big expiry day at the end of a weak week. On Friday, Germany’s leading index ended the fourth Advent weekend down 0.43 percent at 19,884.75 points. At times, it even lost up to 1.6 percent. This was its sixth consecutive day of losses. The weekly loss for the Dax was around 2.6 percent.
The previous day, investors’ profit-taking after the recent price rally had already been fueled by the Fed’s interest rate forecasts. However, encouraging data on inflation in the USA and a significant rise in share prices on Wall Street brought some relief in the afternoon. The MDax gained 0.48 percent to 25,549.77 points.
Due to stubborn inflation, the Fed expects fewer interest rate cuts in the coming year than previously. “The Fed’s verbal slap in the face has done its job and taken the upward momentum out of the stock markets,” commented…
