FRANKFURT (dpa-AFX) - Following mid-week relief gains, a sense of sobriety has returned to the German stock market. Major indices retreated on Thursday as oil prices edged higher once again. Amid devastating Israeli airstrikes in Lebanon, Iran threatened to scrap the recently brokered ceasefire with the U.S. Meanwhile, U.S. President Donald Trump warned Iran of a fresh military escalation should a comprehensive agreement fail to materialize.
The Dax fell 0.6 percent to 23,932 points. Only a day earlier, the benchmark index had surged as high as 24,163 points following the announcement of the ceasefire in the Iran conflict. However, the rally stalled as it encountered resistance near several long-term technical trend indicators, including the 200-day simple moving average as well as the 100-day and 50-day lines.
The MDax, which tracks medium-sized German companies, lost 0.7 percent to 30,097 points on Thursday. The Eurozone's blue-chip EuroStoxx 50 index declined by 0.4 percent./la/jha/
