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DAX futures edge lower ahead of the opening with IFO index in the spotlight this morning
The DAX was the best performing major European stock market index on Friday. The DAX closed out the final session of the week with a 0.76% rise on the day. That compared to gains of 0.70% for the CAC 40 and 0.48% for the FTSE 100. The DAX closed 139 points higher, at 18,633, after topping out earlier in the day at 18,670. The index future has backed off a bit this morning though ahead of the opening and that could be due to the proximity of some important German data. That is the latest IFO business climate index, due for release at 8am GMT. The markets are not expecting a higher reading for this index in August. The call is for a reading of 86, compared to 87 set in July. There will be more to add on that after the opening this morning. The DAX is currently priced to open at around 18,600
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