Dax closes in positive territory – upward potential remains limited

Dusseldorf After a turbulent previous week, the German stock market got off to a good start in the new week. The leading index Dax was up 0.7 percent at 15,207 points at the close of trading on Monday. The biggest winners were the food delivery service Delivery Hero with an increase of 4.9 percent and the recipe box mail order company Hellofresh with a gain of four percent.

“The Dax catches up and stabilizes,” writes market analyst Konstantin Oldenburger from the trading house CMC Markets. After the strong labor market data from the US, the market has now priced in up to six interest rate hikes by the US Federal Reserve this year. “At the same time, this also increases the potential to surprise investors less positively with each increase.”

There have been different signals in the past few trading days. On a weekly basis, the Frankfurt stock market barometer fell 1.4 percent to 15,099 positions in the previous week.