FRANKFURT (dpa-AFX) – After the recent record-breaking mood, the Dax suffered a setback before the weekend. On Friday, the leading German index closed 1.49 percent lower at 18,720.01 points. The previous day, the major interest rate cut by the US Federal Reserve had driven it to a record high of just under 19,045 points. Now a profit warning from Mercedes-Benz weighed on the index, dragging other sector stocks down with it. This was compounded by the major decline on the futures markets. Over the week, the Dax nevertheless made a very slight gain.
The MDax mid-cap index lost 1.61% to 25,843.27 points on Friday. Robomarkets capital market strategist Jürgen Molnar explained stronger profit-taking on the German stock market with a view to the escalation in the Middle East, in addition to the dampener caused by Mercedes-Benz. According to Israel’s army, it had attacked a target in Lebanon’s capital Beirut in the afternoon….
