FRANKFURT (dpa-AFX) – At the end of a mixed week, the DAX rallied on Friday. Second- and third-tier stocks, on the other hand, trended slightly lower. Following the announcement of new US economic and inflation data, the leading German index climbed to a daily high and closed up 0.87 percent at 23,739.47 points. This resulted in a weekly gain of around 0.4 percent. In contrast, the MDAX, which tracks medium-sized German companies, fell below the 30,000-point mark again on Friday and ultimately lost 0.16 percent to 29,986.85 points.
In the US, consumer spending by private households rose slightly more than expected in August. Private incomes also climbed more significantly than forecast. By contrast, the PCE deflator of personal consumption expenditures, a key indicator of price trends, rose as expected, as did the core rate, which excludes volatile energy and food prices.
Market participants were not disappointed,…
