Frankfurt (dpa) – The DAX index of the leading 40 shares traded on the Frankfurt Stock Exchange briefly hit a new high early on Friday on the back of a strong rise in Deutsche Telekom shares before retreating again.
The DAX posted a a high of 16,117 before falling back to levels around 16,100. The index stood at 16,041 at the beginning of the week and at 15,147 just a month ago.
Strong quarterly figures from Deutsche Telekom had helped drive the rise, traders said.
The company upped its forecast for the year for the third time on Friday, after a rise of 1.8 per cent in turnover for the July-to-September quarter. Deutsche Telekom said its units on both sides of the Atlantic were performing well.
Net profits for the quarter rose by 8.8 per cent to almost 889 million euros (1.01 billion dollars).
The DAX has hit repeated highs over recent days.
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