After two days of recovery, investors on the Dax pulled the ripcord again on Wednesday. The leading German index began to crumble in the morning and closed 0.27 percent in the red at 18,088.70 points. The record high of 18,567 points reached at the beginning of the month remains some way away. The MDax of medium-sized stock exchange companies actually fell by 1.05 percent to 26,346.07 points in the middle of the week – also because of the fall in Evotec’s share price.
After two days of recovery, investors on the Dax pulled the ripcord again on Wednesday. The leading German index began to crumble in the morning and closed 0.27 percent in the red at 18,088.70 points. The record high of 18,567 points reached at the beginning of the month remains some way away. The MDax of medium-sized stock exchange companies actually fell by 1.05 percent to 26,346.07 points in the middle of the week – also because of the fall in Evotec’s share price.
Even reasonable economic data did not change the minus. The mood in the German economy improved again in April. The Ifo business climate – an important economic barometer – rose for the third time in a row. In the USA, orders received for durable goods were slightly above expectations.
In the resistance zone around 18,200 points, “the Dax could find it difficult to continue its recovery unhindered in the short term,” wrote analyst Konstantin Oldenburger from the trading house CMC Markets. “An outbreak above this could be postponed until the turn of the month next week, but then bring new momentum to the market.”
Source: Stern
