FRANKFURT (dpa-AFX) - Following a robust session during the Ascension Day holiday, the DAX headed back into negative territory on Friday. Shortly after the Xetra opening, the German benchmark index shed 0.85 percent to stand at 24,248 points.
Investors remain on edge awaiting a resolution to the conflict in Iran, keeping oil prices at elevated levels. Meanwhile, profit-taking dominated the landscape in Asia ahead of the weekend, particularly hitting the high-flying semiconductor sector. Market participants also maintained a skeptical stance regarding the meeting in Beijing between Chinese leader Xi Jinping and U.S. President Donald Trump.
Inflationary pressures are becoming increasingly evident, while talks between China and the U.S. concerning the import of critical AI-capable semiconductors have failed to meet expectations, noted market expert Andreas Lipkow of CMC Markets.
The mid-cap MDAX fell by 1.19 percent to 31,514 points on Friday. The Eurozone's blue-chip EuroStoxx 50 index declined by 1 percent./ajx/jha/
