FRANKFURT (dpa-AFX) – The Dax ended higher on Friday after a mixed week, as investors worried about the impact of the financial crisis on the markets. However, buying remained limited: At the end of the session, the German leading index was still 0.14 percent higher at 18,235.45 points, after having once again failed to reach the resistance zone at 18,350 points. The support of the moderately supportive US markets was offset by the uncertainties surrounding the first round of the French legislative elections.
Over the week, the Dax recorded a gain of 0.4%, while the results for June were negative. Since the start of the year, the price has certainly increased by almost 9%. This, however, was due to a strong first quarter, followed by a decline of 1.4 percent in the second quarter, despite temporary records. According to analyst Konstantin Oldenburger of broker CMC Markets, the course of events is uncertain. Usually, a summer low looms now, but in US election years, price rallies are quite usual, even at this time of year, the expert pointed out.
The mid-cap MDax closed Friday down 0.78% at 25,176.06 points. The euro zone’s flagship index, the EuroStoxx, ended the weekend down 0.2%. Stock prices also fell in Paris and London. On the other hand, the flagship American index Dow Jones Industrial experienced a moderate increase at the close of the European stock market, as did the Nasdaq 100, dominated by technology stocks.
