DAX Higher, Avoiding Affects from Weak Economic Data Friday

In Germany, market indexes were broadly higher Friday despite a weak jobs report from the U.S. economy and global economic data concerns which continued to weigh on stock valuations. Investors appeared to continue increasing their buying after early week losses showed numerous value buys and a continued rally in energy stocks helped lead the day higher. The DAX closed at 9,869.95 for a gain of 18.09 points or 0.18 percent. Other notable indexes in Europe affecting Germany included the Stoxx Europe 600 which closed at 331.67 for a loss of -1.19 or -0.36 percent. The Stoxx Europe 50 which closed at 2,765.43 for a loss of -10.60 points or -0.38 percent. The Euro Stoxx 50 which closed at 2,936.84 for a loss of -3.51 points or -0.12 percent and the Euro Stoxx Index which closed at 315.35 for a loss of -0.34 points or -0.11 percent.

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Source: Google Finance.

Germany’s Chancellor, Angela Merkel, continued talks on a deal regarding European Union immigrants that should help control the refugee crisis which likely helped German stocks slightly. The DAX was mixed in its activity with 16 stocks lower and 14 higher. Market movers included Commerzbank AG which traded actively and reported the second largest gain in the DAX 30 Friday. Deutsche Boerse lost the most for the DAX 30. Volkswagen was also higher as automotive stocks gained.

In other European markets, the two main large-cap indexes in the U.K, the FTSE 100 and FTSE 250 reported mixed results. The FTSE 100 closed at 6,125.70 for a gain of 8.45 points or 0.14 percent. The FTSE 250 closed at 16,648.76 for a loss of -12.94 points or -0.08 percent.

In Asia, China’s Shanghai Composite closed at 2,913.25 for a loss of -84.59 points or -2.82 percent. Hong Kong’s Hang Seng closed at 20,109.87 for a loss of -339.95 points or -1.66 percent. The S & P BSE Sensex closed at 25,228.50 for a loss of -33.71 points or -0.13 percent.

In the U.S., stocks were mixed Friday. The Dow Jones Industrial Average closed at 17,740.50 for a gain of 79.79 points or 0.45 percent. The S&P 500 was also higher, closing at 2,057.14 for a gain of 6.51 points or 0.32 percent. The Nasdaq Composite was at 4,736.16 for a gain of 19.06 points or 0.40 percent.

Peter Jones

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