Dusseldorf For the second time in a row, the leading German index Dax limited its weekly losses on Friday. In the afternoon, the Frankfurt stock exchange barometer was almost 0.5 percent up at 15,909 points, last Friday’s closing price was 15,961 points. The Dax had gained slightly in value in the past four weeks.
In this respect, a week of losses would not be a bad sign, explains Martin Utschneider, technical analyst at private bank Donner & Reuschel. “The overarching chart and market-technical upward trend remained intact despite the last two-week consolidation.” It could still be a “pleasant trading month”.
Several factors are proving to be a burden this week: Weak economic data from the USA and China have increased fears of a global economic slowdown, the problems at the regional bank Pacwest in the USA are fueling concerns about a new banking crisis, and the dispute over raising the debt ceiling in the United States continues.
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