FRANKFURT (dpa-AFX) - Renewed geopolitical tensions surrounding Iran weighed on the German stock market on Friday. The benchmark Dax index fell 1.32 percent to 24,338.63 points, drifting further away from the 25,000-point threshold, which it had briefly surpassed on Wednesday for the first time since the outbreak of the Iran conflict in late February. 'The Dax is paying the price for persistently high oil prices, which are undermining economic expectations for the eurozone and, consequently, for Germany,' wrote Andreas Lipkow, chief market analyst at brokerage CMC Markets.
On a weekly basis, the Dax posted a modest gain of 0.19 percent. The MDax, which tracks mid-cap stocks, dropped 1.20 percent on Friday to 31,181.06 points.
The ceasefire between the U.S. and Iran is currently being put to the test: Tehran and the United States engaged in mutual strikes despite the truce. Iran targeted U.S. naval vessels in the Strait of Hormuz with missiles and fast attack craft, while the U.S. struck targets on the mainland. It remained unclear which side opened fire first. The United Arab Emirates also reported fresh Iranian attacks. U.S. President Donald Trump issued threats calling on Tehran to 'quickly' sign a peace agreement, though he maintained that the ceasefire remains in effect despite the hostilities./la/he
