FRANKFURT (dpa-AFX) – On Friday, the DAX initially moved further away from its previous day’s record high of 24,479 points. In the first few minutes after the Xetra opening, the German benchmark index lost 0.19 percent to 24,277 points.
On Thursday, it had extended its positive performance for the year to a gain of almost 23 percent with a new high following the European Central Bank’s (ECB) interest rate cut. However, the ECB’s moderate signals at its press conference dampened further hopes of interest rate cuts and knocked the DAX off its perch. Its weekly gain currently stands at 1.2 percent.
Another highlight on the agenda this afternoon is the US labor market report. Thomas Altmann, portfolio manager at QC Partners, pointed out that Wednesday’s ADP report, which contains data from the private sector, was unexpectedly weak. Analyst Jochen Stanzl from broker CMC Markets nevertheless noted that tariff policy has so…
