The German stock index Dax rose strongly for the fourth day in a row. The leading index rose by 3.4 percent to 12,847 points. This brings the weekly profit to almost eleven percent – that was the best trading week since the beginning of April.
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The leading German index has almost caught up with the historically unprecedented corona crash. The index recovered from the mid-March low by almost 4,600 points, or around 55 percent.
The MDax gained 1.6 percent to 27,199 points. The index of medium-sized stocks has thus returned to the level of the end of February like the Dax.
Good labor market data from the USA
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One reason for the increase on Friday was solid US labor market numbers. Despite the corona crisis and contrary to market expectations, unemployment in the world’s largest economy decreased in May. The companies started to build up employment again after massively cutting jobs in the previous month.
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The Eurozone leading index EuroStoxx 50 advanced by 3.7 percent to 3384 points. In Paris, the Cac 40 rose 3.7 percent, and in London the FTSE 100 closed the last trading day of the week up 2.3 percent. The Dow Jones Industrial rose 3.6 percent at the close in Europe.
The euro weakened after strong US job market data and was trading at $ 1.1307 in the evening. Previously, the European single currency had reached its highest level since March at $ 1.1384.
The prices of German government bonds also fell. The Rex index rose by 0.05 percent to 144.07 points. In return, the current yield rose from minus 0.35 the previous day to minus 0.30 percent. The Bund future was 0.33 percent in the evening at 169.97 points.
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