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Frankfurt Stock Exchange: DAX breaks off recovery

Frankfurt Stock Exchange: DAX breaks off recovery

On Wednesday, the Dax gave up almost all of the gains it had recorded during trading. This meant that a recovery from the previous day’s weakness failed. There was no support from the US stock markets in the afternoon. The leading German index reached the finish line with an increase of 0.02 percent to 17,770.02 points.

On Wednesday, the Dax gave up almost all of the gains it had recorded during trading. This meant that a recovery from the previous day’s weakness failed. There was no support from the US stock markets in the afternoon. The leading German index reached the finish line with an increase of 0.02 percent to 17,770.02 points.

The DAX is working on stabilizing, wrote analyst Konstantin Oldenburger from broker CMC Markets. He doubts whether it will succeed – at a time when the rally’s swansong is getting louder and louder.

The MDax closed in the middle of the week with minus 0.18 percent to 25,926.74 points. In New York, the leading index Dow Jones Industrial and the technology-heavy Nasdaq 100 were both around half a percent lower at the close of the European stock exchange after an initially friendly start. It was only on Tuesday that US Federal Reserve Chairman Jerome Powell once again dampened investors’ hopes that interest rates would soon fall. The risks in the Middle East cannot be ignored either.

In the DAX on Wednesday, Adidas investors celebrated an optimistic forecast from the sporting goods manufacturer with a price gain of 8.6 percent. Continental fared differently with minus 5.5 percent. In the first quarter, the group again felt the effects of the problems in automotive supply.

Source: Stern

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