The Dax remained just below its recent record high this morning. Around midday, the leading German index gained 0.11 percent to 16,810.66 points at the close of the previous day. The MDax of medium-sized stocks rose by 0.14 percent to 26,620.38 points. The Eurozone index EuroStoxx recorded an increase of 0.2 percent.
The Dax remained just below its recent record high this morning. Around midday, the leading German index gained 0.11 percent to 16,810.66 points at the close of the previous day. The MDax of medium-sized stocks rose by 0.14 percent to 26,620.38 points. The Eurozone index EuroStoxx recorded an increase of 0.2 percent.
Since last Tuesday, the Dax had reached record highs with one exception – the day before at 16,837 points. He had extended his year-end rally since the interim low in October to a good 15 percent.
The focus today is on the key interest rate decision in the USA in the evening. The US Federal Reserve is likely to keep monetary policy quiet again at its last interest rate meeting this year. Market participants expect interest rates to be cut by the US Federal Reserve and the European Central Bank (ECB) in the coming year.
There were reclassifications by analysts among individual stocks on the German market in the middle of the week. A double upgrade from “Sell” to “Buy” by the Swiss bank UBS gave further impetus to the recovery of BASF shares. The chemical company’s shares rose by four percent at the top of the DAX. Chemical stocks were generally in demand.
Bank of America issued a “buy” vote for Continental, after which the shares of the auto supplier and tire manufacturer rose by 2.4 percent. Fraport climbed 1.7 percent according to the airport operator’s traffic figures for November.
Source: Stern
