Dax closes 1.59 percent higher at 14,231 points

Dusseldorf On Thursday, the Dax passed the 14,000 point mark again. The leading index closed 1.59 percent higher at 14,231 points. In a benign market environment, the Dax was up throughout the day after the Fed minutes were released. The market opening in the USA then ensured further price gains.

The Dax has never been able to sustainably leave the 14,000 mark in the past two trading weeks. During this period, the Frankfurt stock exchange barometer closed five times above the said level and four times below it. On Wednesday, the index ended trading at 14,008 points after a weak start.

Rapid profit-taking suggests that few committed, long-term buyers are in the market. On the other hand, there seems to be a lot of buying interest just below the 14,000 point mark: quick follow-up purchases ensure that things go up when the Dax falls below it. The result is a multi-day sideways movement.