Stock exchange in Frankfurt - Dax builds on previous day's gains
The DAX continued to rise on Wednesday. The leading German index climbed by 0.17% to 16,772.74 points shortly after the start of trading, moving a little closer to its record high of the previous week.
Last week, the DAX had shot up to a peak of 17,003 points, driven by the Fed' s hoped-for interest rate cut signals for 2024. However, their European colleagues from the ECB had subsequently remained much more defensive, slowing down the rally. It was not until Tuesday that the most important German stock market barometer was able to rise again after five trading days of moderate losses.
While some investors are now still hoping for a small Christmas rally, the air seems to be getting thinner and thinner. "It seems that the Dax has exhausted its short-term upward potential for the time being," wrote Martin Utschneider from Finanzethos.
The MDax also built on the previous day's gains on Wednesday - the index of mid-cap stocks rose by 0.46% to 27,281.81 points after the first few minutes of trading. The EuroStoxx 50, the leading index in the eurozone, rose by 0.18% to 4543.53 points.
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Source: www.stern.de
