FRANKFURT (dpa-AFX) - The DAX continued its rally at the end of the week. On Friday, the leading German index climbed above the 20,400 mark for the first time in early trading, but was unable to hold it and ultimately went into the weekend 0.13 percent higher at 20,384.61 points. It was the seventh winning day in a row. Its weekly gain amounted to almost four percent and its annual gain to almost 22 percent.

However, Dekabank chief economist Ulrich Kater commented that the record run was more a credit to the internationally positioned companies in the DAX than an assessment of the quality of Germany as a business location, with a view to the weakening German economy. The "more home-oriented" MDax has therefore not performed as well since the beginning of the year and is standing still. On Friday, the mid-cap index rose by 0.66 percent to 27,310.86 points.

The US labor market data published in the early afternoon played no role on the German stock market. In the United States, significantly more new jobs than expected were created in November after the dip in the previous month due to hurricanes and strikes. However, the unemployment rate rose surprisingly. "The fact that wage growth has accelerated again somewhat will certainly not please the Fed," wrote Thomas Altmann from QC Partners. However, the Fed's interest rate cut before Christmas, which investors have been longing for, is still possible. The European Central Bank's (ECB) interest rate decision is due next week./niw/he