FRANKFURT (dpa-AFX) – After stabilizing the previous day, the DAX continued to recover from its recent setback on Thursday. Germany’s leading index rose by 0.74 percent to 23,770.33 points, climbing back above the 100-day moving average that was breached during Tuesday’s sell-off. This medium-term trend indicator is seen as an important resistance level. However, the round mark of 23,800 points, which the DAX briefly surpassed, ultimately proved too tough to hold. The MDAX of mid-sized companies also gained 0.21 percent, closing at 29,792.44 points.
The German stock market barely reacted to signals from the US labor market. Private-sector employment data from ADP for August came in slightly weaker than expected, while weekly initial jobless claims rose surprisingly sharply. The official government jobs report is due Friday, a key factor for the US Federal Reserve’s future monetary policy.
The slight easing seen in the…
