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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- The US Central Bank's potential interest rate cut signals for 2024 contributed to the DAX's record high in Frankfurt on the Main last week, boosting not only the DAX but also the MDAX, which is based on the Frankfurt Stock Exchange.
- For investors looking for a small Christmas rally, the German stock market in Frankfurt on the Main, home to the DAX and MDAX, seems to be facing some challenges as the indexes have shown signs of exhausting their short-term upward potential.
- In the heart of Germany's financial district, Frankfurt on the Main, the German stock market launch of shares on the Frankfurt Stock Exchange has gained momentum, with the MDAX increasingly drawing the attention of investors due to its mid-cap status within the German market.
- As the world's fourth largest stock exchange in terms of overall market capitalization, Frankfurt on the Main's Frankfurt Stock Exchange plays an essential role in the global financial market, hosting both the prestigious DAX and the emerging MDAX that show significant growth potential for investors worldwide.
Source: www.stern.de
