FRANKFURT (dpa-AFX) - After three consecutive days of losses, the DAX staged a counter-move on Friday, posting a modest recovery. Nevertheless, investors remained anxious in light of the sharp fluctuations in precious metals and the technology sector seen in recent days. Growing doubts about large-scale investments in artificial intelligence continue to unsettle the market. Negative news from automaker Stellantis also put significant pressure on the European automotive sector ahead of the weekend, dragging down local industry shares as well.
The DAX ended trading up 0.94 percent at 24,721.46 points. This resulted in a weekly gain of 0.74 percent. The MDAX, which tracks mid-cap stocks, rose 0.73 percent on Friday to 31,662.83 points.
The shockwaves in the precious metals and cryptocurrency markets did not leave the stock exchanges unscathed, wrote Christine Romar, European head at brokerage CMC Markets. Forced liquidations in those markets triggered sales elsewhere and weeded out jittery investors from the stock market as well. "Such a shakeout is healthy and puts the ongoing bull market on a more solid footing," the expert concluded./la/he
