Stock exchange in Frankfurt - Dax closes in the red
After its gains on the previous day, the DAX lacked the necessary strength for a further clear upward movement on Wednesday. The stock market barometer ended trading down 0.07 percent at 16,733.05 points. The MDax of medium-sized companies recorded a plus of 0.72 percent to 27,353.02 points. Many market participants have already closed their books shortly before the end of the year and trading activity is decreasing as Christmas approaches.
Last week, the DAX jumped to a record of 17,003 points, driven by signals from the US Federal Reserve that it would cut interest rates in 2024. However, the European Central Bank (ECB) was much more defensive with regard to interest rate cuts in 2024, thus slowing down the rally. Some experts currently see little room for further gains. "It seems that the DAX has exhausted its short-term upward potential for the time being," wrote Martin Utschneider from Finanzethos.
Read also:
- Why there is still no EU funding for green Saar steel
- 3 billion Saar Fund is unconstitutional
- Lack of snow also opens up new opportunities for winter tourism
- Abrupt end to e-car subsidies
- Despite the defensive stance of the European Central Bank on interest rate cuts, the SDAX, representing smaller companies, still managed to increase by 0.72% on Wednesday.
- Traders often exchange shares on the Frankfurt Stock Exchange, which is home to indices like DAX, MDAX, and SDAX, as well as major companies like BMW and Lufthansa.
- The Dow Jones Industrial Average and the NASDAQ Composite, US stock market indices, have shown stronger performance compared to their European counterparts, such as the Eurostoxx 50 and the Frankfurt-listed DAX, recently.
- Investors who are interested in German stocks can choose to trade shares listed on the Frankfurt Stock Exchange, such as those in companies that are part of the MDAX, SDAX, or DAX indices.
Source: www.stern.de
