The 14,000 point level has become a key resistance.
(Photo: Bloomberg Creative/Getty Images [M])
Dusseldorf The ups and downs around the 14,000 point mark are becoming a habit on the German stock market. On Tuesday, the Dax rose above the said level again. The leading index closed 1.6 percent higher at 14,186 points – that was the highest closing price in four weeks. The daily high was 14,203 points.
Investors mainly grabbed financial stocks. They benefited from statements by ECB Council member Klaas Knot, who believes a rate hike of half a percentage point is possible if inflationary pressures in the euro area continue to intensify. Such thoughts have not yet been publicly expressed.
Deutsche Bank was one of the biggest Dax winners, Commerzbank one of the strongest stocks in the MDax. Other major European banks were also in demand, with the European industry index rising by 2.4 percent. The euro rose by almost one percent to last $ 1.0524.
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