The Dax initially continued its slight correction from its record high. In early trading, the leading German index fell by 0.19 percent to 18,707.22 points. On Friday it reached a high of 18,845 points.
“Investors are waiting and not venturing too far out of their cover before the inflation data on Wednesday,” wrote analyst Jochen Stanzl from broker CMC Markets. US consumer prices are considered a key factor for further monetary policy developments. It is still uncertain when the US Federal Reserve will begin cutting interest rates.
In the Dax, investors’ willingness to take profits has understandably increased after the strong rally, said Stanzl. The DAX is consolidating at a high level, commented Jürgen Molnar, capital market strategist at broker RoboMarkets.
The MDax of medium-sized stocks gained 0.96 percent to 27,081.21 points. The EuroStoxx 50, the leading index for the euro zone, fell by 0.1 percent.
Source: Stern
