FRANKFURT (dpa-AFX) - The DAX is expected to show little movement on Friday, following its rebound the previous day. Broker IG estimated the German benchmark index at 23,680 points two hours before the Xetra opening, just barely above its previous day's level. This would round off a mixed week for the DAX, with Thursday's gains bringing its weekly balance nearly to even.
However, market volatility could increase during the day due to the expiration of derivatives on futures exchanges. "The September expiration is one of the four major expiration dates of the year," noted market observer Thomas Altmann from asset manager QC Partners. On these dates, stock prices and indices can fluctuate noticeably even in the absence of significant news, as investors' deadlines for executing derivatives transactions come to a close.
As the session progresses, attention is likely to shift back to New York, with the question of whether the record run of leading US indices will continue. In Germany, focus may fall on a lowered forecast from advertising marketer Stroer and a cost-cutting program from auto supplier Stabilus, which is expected to weigh on its profits./tih/jha/
