Dax closes above the 14,400 point mark

Dusseldorf After two days of losses in a row, the German stock market stabilized again on Thursday. The leading index Dax closes one percent up at 14,485 points.

According to observers, the price gains were triggered by the decision of the “Opec plus” oil cartel to increase production in July and August. “I think the message is that the world doesn’t need to worry about oil supplies,” said Naeem Aslam, chief market analyst at brokerage firm AvaTrade. The scarce oil supply and the high prices have weighed heavily on the market recently.

At the same time, there were sobering figures from the US job market. According to the private employment agency ADP, the number of people employed in the private sector rose by just 128,000 in May, falling short of the Dow Jones estimate of 299,000. This is the lowest growth since the beginning of the corona pandemic. The government’s labor market report, which also lists public sector jobs, is due on Friday.