German stock market stabilizes after biggest setback
DAX gains 0.4 percent in early trading
Index hit highest level since mid-June on Friday
FRANKFURT (dpa-AFX) - After the DAX's biggest setback since mid-June the day before, prices on the German stock market stabilized at a high level on Thursday.
In the first minutes of trading, the leading Dax index gained 0.4 percent to 17,961 points. On Friday, the DAX had climbed to its highest level since mid-June and most recently traded 0.72 percent higher at 18,584.04 points.
Dealers cited a lack of fresh impulses for the market. Investors were waiting for the US labor market data due later in the day, which could provide information on the monetary policy course of the US Federal Reserve.
Among individual stocks, shares of Lufthansa initially rose by around 1 percent after the airline presented quarterly figures that exceeded expectations. The shares of Deutsche Bank also gained 1.3 percent, while those of Siemens Energy fell by 2.1 percent.
On the bond market, the yield on ten-year federal bonds fell slightly to 1.13 percent. The euro cost 1.0914 US dollars, slightly less than on Wednesday evening.
Comments