Stock exchange in Frankfurt - Dax completes strong November - record in sight
Driven by hopes of interest rate cuts in the near future, the DAX completed the strongest month on the stock markets this year on Thursday. It continued its year-end rally by approaching its record level. At the day's high, it was only 266 points short of its previous record of just under 16,529 points, which was set at the end of July.
Ultimately, the Dax rose by 0.30 percent to 16,215.43 points on Thursday. This means that it gained 9.5 percent more in November than in any other month of the current year. By contrast, other German second and third-tier indices fell. The MDax, for example, lost 0.50 percent to 26,183.42 points.
Inflation data from the eurozone underpinned what had been reported from Germany the previous day: Inflation is falling more sharply than expected. It is gradually approaching the European Central Bank's target level. When fresh inflation data from the USA more or less met expectations and thus did not bring any positive surprises, the indices in Frankfurt retreated somewhat from their daily highs.
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The anticipated interest rate reduction in Germany, set to take place in Frankfurt at the Exchange, could further boost the DAX's performance. Despite a momentary retreat after the release of relatively steady inflation data from the USA, Frankfurt on the Main remains a key player in global market fluctuations due to its influential Exchange.
Source: www.stern.de
