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Germany's benchmark DAX index closes up on Friday

Xinhua, December 17, 2016 Adjust font size:

The benchmark DAX index at Frankfurt Stock Exchange on Friday gained 37.61 points, or 0.33 percent, and closed at 11,404.01 points. The Index advanced 1.8 percent for the week.

Friday was Triple witching day, on which options and futures on indices and shares expired. Driven by short covering, the German lead index climbed up to 11.451 points in the peak, then closed at 14.404 points, the highest level in 16 months. "This was a classic triple witching day," said portfolio manager Thomas Altmann.

Top winner was German's largest airline Lufthansa with a gain of 1.85 percent. Lufthansa announced on Friday that it will rent 38 aircraft from Golf-Airline Etihad. In addition, a conciliator was found for the ongoing tariff dispute with the pilots.

The German steelmaker ThyssenKrupp dropped the most, 1.17 percent, followed by Commerzbank and ProSiebenSat.1.

Siemens was the most traded share of the day with a volume of 951.96 million euros (995 million U.S. dollars). Endit