Dusseldorf The German leading index Dax starts the trading day on Wednesday almost unchanged. In the first hour of trading, the Dax was up around 0.2 percent at 15,930 points. It ended Tuesday trading at 15,897 points.
While price indicators are pointing to growth and the Dax has been sailing just below the 16,000 point mark for a month, weak economic prospects and the ongoing US debt dispute are dampening investor sentiment. These opposing impulses balance out the price dynamics: the Dax remains in its sideways movement “as if frozen”, say observers.
The 16,000-point level caps the leading index, but the Dax is not going down either, despite all the bad news. The barometer is standing still, its trading range is currently less than 400 points. On the downside, the mark of 15,650 points proves to be a stable support, at which investors decide to buy and thus raise the price.
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