Stock exchange in Frankfurt: Fed protocol keeps Dax at a high level

The minutes of the most recent US central bank meeting give the Dax a further boost on Thursday from an already high level.

Stock exchange in Frankfurt: Fed protocol keeps Dax at a high level

The minutes of the most recent US central bank meeting give the Dax a further boost on Thursday from an already high level. The leading German index gained 0.26 percent to 14,465.18 points in the first few minutes after the opening. It is only a few points below the high since the beginning of June, which it reached on Tuesday at 14,485 points.

The MDax of medium-sized stocks rose by 0.39 percent to 25,736.53 points on the penultimate trading day of the week. The EuroStoxx 50, the leading barometer for the eurozone, gained 0.1 percent.

The minutes of the US Federal Reserve's November meeting keep the chance of the year-end rally in the stock market alive. The Fed announced a more cautious pace of interest rate hikes. This is well received on both the stock and bond markets, said market expert Thomas Altmann from asset manager QC Partners. The minutes have fulfilled the high expectations of the brokers.

Market participants expect trading to be more leisurely on Thursday, because the Americans are celebrating Thanksgiving, so the stock exchanges in New York will remain closed and there will be no impulses from there. In addition, trading on the stock market in the USA will only be shortened on Friday tomorrow. Trade tends to take place in the shops, so-called "Black Friday" marks the start of the Christmas business. Some market participants also use these days for a long weekend.

The expectations of the important US retail trade are high, explained analyst Christian Henke from Broker IG. At the same time, he warned that a disappointing "Black Friday" and renewed lockdowns in China could severely slow down the recovery on the stock markets.

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