FRANKFURT (dpa-AFX) - A strong labor market report from the U.S. also weighed on the German stock market on Friday. Concerns that interest rates will not be cut in the near future were reinforced by the fact that the US economy created significantly more jobs than expected in December. Conversely, unemployment in the United States fell by surprise.

Compared to the US stock markets, which came under a good deal of pressure, the Dax still appeared relatively robust. While the New York Dow Jones Industrial was down 1.6 percent at the close of trading here, the German leading index showed relative strength with a discount of 0.50 percent to 20,214.79 points. It thus also comfortably held above the 20,000-point mark. The MDax of mid-cap German stocks fell 0.82 percent to 25,371.22 points.

In an initial comment, CMC Markets expert Konstantin Oldenburger emphasized a 43 percent increase in the likelihood that interest rates in the U.S. would remain at current levels through June. The robust labor market coupled with the prospect of higher tariffs under the future US President Donald Trump. Together, both speak for a longer phase of stagnating interest rates./tih/he