FRANKFURT (dpa-AFX) - Following the previous day's setback, the Dax, Germany's benchmark index, closed virtually unchanged on the final trading day of the week. "Attention is now focused on potential negotiations in Pakistan, which are expected to take place over the weekend," Commerzbank noted on Friday, referring to the warring parties in the Middle East. Among many factors, the success of a lasting ceasefire is likely to depend on Israel's actions in Lebanon. Recent reports have indicated a willingness to negotiate.
The Dax edged down 0.01 percent to 23,803.95 points, resulting in a weekly gain of 2.74 percent. However, the losses incurred since the start of the Iran war in late February have yet to be recovered; shortly before the outbreak of the armed conflict, the Dax stood above 25,000 points. The MDax, which tracks medium-sized German companies, climbed 1.10 percent to 30,382.28 points on Friday.
Investors remain focused on oil and gas prices. The price of a barrel (159 liters) of North Sea Brent for June delivery remained well below the closely watched 100-dollar mark, trading at just over 96 dollars. On Wednesday, following the ceasefire agreement in the Iran war, the price had dropped to nearly 90 dollars./la/he
