FRANKFURT (dpa-AFX) - After a weak week so far, the DAX is likely to recover somewhat on Friday. The German benchmark index has lost almost three percent in the past three days. Now, around two and a half hours before the start of trading on the Xetra, broker IG valued the DAX at 0.7 percent higher at 23,221 points. This puts it back above its 50-day average and the 23,000-point mark, to which it had fallen back almost completely the day before.
Investors are eagerly watching Geneva, where the foreign ministers of Germany, France, and the UK are set to meet with their counterpart from Tehran on Friday to negotiate Iran's nuclear program. Against the backdrop of possible US intervention alongside Israel in the war with Iran, the European ministers aim to persuade Iran to back down on its nuclear plans and thus contribute to de-escalation.
Meanwhile, US entry into the war no longer seems quite as likely as a press report had suggested the day before. The White House still sees "considerable opportunity" for negotiations with Iran. According to his spokeswoman, US President Trump wants to wait and see how things develop and will decide on possible military action within the next two weeks. /ag/stk
