German stocks index hits record high after more US peaks

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London

Germany’s bluechip stocks index on Friday breached 16,000 points for the first time following more record highs on Wall Street overnight as in-vestors shrugged off data showing fresh US infla-tion pressures.

A jump in wholesale prices added to expectations the Federal Reserve will shift course and pull back on its stimulus efforts, starting with a slowdown in the pace of massive bond buying.

“For now, markets appear… comfortable with that idea,” noted Michael Hewson, chief market analyst at CMC Markets.“As long as the discussion doesn’t move onto the more sensitive topic of rate rises, then the current trend of… (stock market) highs looks set to con-tinue.”—AFP

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