After the US labor market report, the DAX climbed again to a record high. The leading index temporarily rose to around 16,783 points and ultimately closed 0.78 percent higher at 16,759.22 points. With a weekly increase of 2.2 percent, it increased for the sixth week in a row. Since its October low of 14,630 points, the Dax has gained a good 14.5 percent. Investors continue to expect central banks to cut interest rates soon. The MDax of medium-sized companies rose by 0.59 percent to 26,691.29 points before the weekend.
The US job data was surprisingly robust, with the number of new jobs created in November slightly exceeding economists’ expectations. “Although some special factors such as seasonal jobs in retail or the end of strikes in the automotive industry may have played a role, a slowdown looks different,” wrote Konstantin Oldenburger, market analyst at CMC Markets. On the other hand, it is unlikely that the job growth will lead to a further interest rate increase.
