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Dax starts stabilization attempt
"Dax starts the new week positively with an attempt to stabilize after weak weeks. Find out more about the current developments on the German stock market. #Dax #shares #stock market"
Dax starts stabilization attempt
On Monday morning, the Dax showed signs of a further attempt to stabilize after three weak weeks. At the start of the trading day, the leading German index recorded an increase of 0.7 percent to 17,866 points, while the MDax of medium-sized stocks rose by 0.8 percent to 26,192 points. The EuroStoxx 50, the leading index for the Euroregion, also recorded an increase of 0.7 percent.
In April, the DAX reached a record high of 18,567 points, after recording an increase of almost eleven percent at the beginning of the year. Since then, the index has been under pressure, mainly due to increased geopolitical risks and the uncertain monetary policy situation in the USA. A rate cut was originally expected in June, but a longer period of high interest rates to combat inflation now seems more likely.
Portfolio manager Thomas Altmann from QC Partners commented that after the recent sales trend, bargain hunters are now ready to get in. For investors who have missed the 2024 rally so far, the current decline is a welcome opportunity to buy. Investors reacted with relief that there was no further bad news from the various trouble spots over the weekend.
The coming week will also be characterized by the reporting season, with SAP starting after the US stock market closes.