The Dax index remained in the red zone until lunchtime on Friday, after a weak start to the trading day. By around 12:30 pm, the leading index was calculated at around 19,715 points, 1.3% below the previous day’s closing level.
“‘The selling pressure remains unchanged and is holding the Dax at the price range of 19,700 to 19,750 points,’ said market analyst Andreas Lipkow. ‘The price level has been a stubborn intermediate high for a long time, and the market seems to be collectively remembering it. Investors have buried their hopes of the open futures contracts being settled above the price level of 20,000 points.'”
“‘The verbal slap from the US central bank has had an impact and taken the upward momentum out of the stock markets. Now, the individual stocks of the Dax 40 are in the focus of market participants. Today, on Xetra, the options on the Dax members will be settled,’ said Lipkow.”
“The European common currency was a bit stronger on Friday afternoon: one euro cost 1.0383 US dollars, and one dollar was worth 0.9631 euros.