Frankfurt The Dax defies all odds. On Wednesday, the leading German index closed at 15,961 points in the middle of its two-month trading range.
Compared to the previous day’s close, this represents a minus of 0.2 percent. The stock market has been extremely calm again for three days. The Dax has been in a daily trading range of only around 100 points since last Friday.
This will eventually turn out to be a “calm before the storm”, but that may take a while.
So far, the Dax has bravely defended its annual gain of almost 14 percent. At the annual high of 16,332 points in mid-May, the increase since the beginning of the year was even 15.7 percent. But so far, very few investors see reasons to take profits.
For Thomas Altmann from the fund house QC Partners, “most people seem to believe or at least hope that things will soon go up after the current sideways movement”.
Weak economic data from China
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