Under the influence of strong quarterly balance sheets from some technology companies, the Dax picked up speed again in the middle of the week. The leading German index closed with an increase of 1.58 percent at 16,889.92 points. The MDax ultimately rose by 1.17 percent to 26,141.29 points.
Under the influence of strong quarterly balance sheets from some technology companies, the Dax picked up speed again in the middle of the week. The leading German index closed with an increase of 1.58 percent at 16,889.92 points. The MDax ultimately rose by 1.17 percent to 26,141.29 points.
The Dax managed to pass the 16,750 point mark on Wednesday, which had been resistance in the past two weeks. According to market expert Jochen Stanzl from broker CMC Markets, this is an important hurdle over which things could continue to rise from a technical perspective. The leading index is only a little more than 110 points short of the record of just over 17,000 points.
With the price gains, the Dax continues to move in the shadow of the leading US stock exchanges, which could set further records on Wednesday. According to Mark Haefele of UBS, record highs often lead to concerns among investors that the markets may have peaked. “However, our analysis shows that such concerns are generally not justified,” said the expert. History shows that the returns in subsequent years are positive.
Source: Stern
