FRANKFURT (dpa-AFX) - Renewed glimmers of hope regarding the conflict in Iran, coupled with tailwinds from US and Asian markets, provided support on Friday, particularly for German mid- and small-cap stocks. The Dax closed just 0.05 percent higher at 25,104.70 points. Nevertheless, the blue-chip index secured a weekly gain of 0.87 percent. For May, a month often notorious for market crashes, the index climbed 3.3 percent. The benchmark is now within striking distance of its record high of nearly 25,508 points reached in mid-January.

The MDax, which tracks mid-cap companies, rose by 0.34 percent on Friday to 33,352.83 points. Meanwhile, the small-cap SDax index continued its record-breaking run, gaining 0.54 percent.

According to US sources, the United States and Iran are nearing an agreement to extend the ceasefire and continue further negotiations. However, the deadlock has not yet been fully resolved. US Vice President JD Vance stated that significant progress had been made regarding a letter of intent, though work remains on several points. Approval from President Donald Trump is still pending. Tehran, meanwhile, indicated that a preliminary agreement has not yet been drafted and, consequently, has not been confirmed. Oil prices continued to decline./la/he