FRANKFURT (dpa-AFX) - The sluggish recovery continues on the German stock market. The German benchmark index DAX rose 0.34 percent to 23,962.63 points in the first minutes of trading on Friday. Increased orders for German industry provided tailwinds in the morning - the good figures gave cause for hope, according to VP Bank.
So far this week, the DAX has posted a moderate gain, and the psychologically important hurdle of 24,000 points is not far off. "If buyers stay on the ball now and quickly break through the psychological round mark, then investors in Frankfurt could continue to dream of a year-end rally after all," wrote analyst Christine Romar of broker CMC Markets.
Meanwhile, there is little momentum coming from overseas. With the US Federal Reserve's closely watched interest rate decision approaching next week, the strong recovery on the US stock markets ran out of steam on the eve of the decision. However, investors continue to firmly expect an interest rate cut.
The MDax index of medium-sized German stocks was last up 0.18 percent at 29,649.64 points. The Eurozone index EuroStoxx 50 gained 0.29 percent to 5,734.77 points./tav/jha/
