The DAX ended a mixed week with gains on Friday. However, willingness to buy was limited: at the end of trading, the German leading index was still 0.14 percent higher at 18,235.45 points, after once again failing to break through the resistance zone at 18,350 points. Support from the moderately friendly US markets was offset by uncertainty ahead of the first round of the French parliamentary elections.
On a weekly basis, the DAX recorded a gain of 0.4 percent, whereas the balance for June was negative. Since the beginning of the year, the share price has risen by almost 9 percent. However, this is due to the strong first quarter – this was followed by a decline of 1.4 percent in the second quarter, despite temporary records. According to analyst Konstantin Oldenburger from the broker CMC Markets, it is uncertain how things will continue. Usually, a summer slump is looming, but in US election years, share price rallies are quite common at this time of year, too, the expert emphasized.
The MDax of medium-sized listed companies closed 0.78 percent lower on Friday at 25,176.06 points. The Eurozone’s leading index, the EuroStoxx, ended the weekend 0.2 percent weaker. Share prices also fell in Paris and London. The US leading index, the Dow Jones Industrial, on the other hand, rose at a similarly moderate rate at the end of European trading, as did the Nasdaq 100, which is dominated by technology stocks.
Source: Stern
