The Dax initially rose further on Wednesday ahead of important monetary policy decisions in the USA, thus starting the month of November on a positive note. A few minutes after the opening of Xetra trading, the leading German index gained 0.27 percent to 14,850 points. This means that the Dax is a little further away from its most recent low since March at 14,630 points and is also clearly above the 14,800 point mark, which has been a tough resistance in the past few days.
The Dax initially rose further on Wednesday ahead of important monetary policy decisions in the USA, thus starting the month of November on a positive note. A few minutes after the opening of Xetra trading, the leading German index gained 0.27 percent to 14,850 points. This means that the Dax is a little further away from its most recent low since March at 14,630 points and is also clearly above the 14,800 point mark, which has been a tough resistance in the past few days.
The MDax of medium-sized companies recorded a loss of 0.15 percent to 24,004 points on Wednesday morning. The Eurozone leading index EuroStoxx 50 advanced by 0.3 percent.
Wall Street had continued its recovery the evening before and most Asian stock exchanges also showed a positive trend on Wednesday morning. Once again disappointing economic signals from China did not have a negative impact like the day before.
The DAX ended October with a loss of around 3.8 percent. It was the third month of losses in a row. The biggest losers were Siemens Energy with a loss of almost a third and Sartorius with a loss of over a quarter.
Meanwhile, Rheinmetall was in demand with an increase of 11 percent as the Middle East conflict intensified. The geopolitical concerns along with high yields in the bond market are considered to be the main reasons for the losses in the stock market.
Some economic data from the USA is likely to be of interest, before US bond plans and the US Federal Reserve’s interest rate decision attract investors’ attention in the evening after the European stock market closes.
Source: Stern
