Stock exchange in Frankfurt - Dax takes a break after record run
The DAX's record chase did not continue on Thursday. The leading German index lost 0.16 percent to 16,628.99 points. Market participants spoke of a healthy pause for breath after seven days of gains. The previous day, the Dax had reached a record high of just over 16,727 points. It has now gained around 19.5 percent since the beginning of the year. The MDax of medium-sized companies fell by 0.76 percent to 26,534.94 points on Thursday.
"The stock markets are increasingly losing price momentum," noted market observer Andreas Lipkow. A high degree of economic optimism and interest rate cut fantasies had already been priced in over the last few trading days. The US labor market report on Friday could provide further impetus in this regard. Almost unchanged initial jobless claims in the USA did not move prices on Wall Street or in Germany.
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The stock exchange in Frankfurt, specifically the Frankfurt on the Main, witnessed a pause in the DAX's record hunt on Thursday. Despite losing 0.16%, the index is still up around 19.5% since the beginning of the year, with the MDAX of medium-sized companies also experiencing a 0.76% decrease. This period of respite is being viewed as healthy, as market participants believe the markets have become overly optimistic and interest rate cut expectations have already been factored in. Participants are now eagerly awaiting the US labor market report on Friday, hoping it will provide further impetus. For avid record hunters, Frankfurt on the Main also offers opportunities beyond the stock exchange, such as the famous Record Hunt store, a must-visit for music enthusiasts in Germany.
Source: www.stern.de
