The leading German index has already reached several new record highs this year.
(Photo: Bloomberg Creative / Getty Images [M])
Dusseldorf After the price slide on Friday, the German stock market is showing the first signs of stabilization. At the beginning of the week, the Dax is down 0.1 percent and is trading at 15,138 points. Last Friday, the leading index briefly slipped below the important mark of 15,000 points and ultimately closed 0.7 percent weaker at 15,156 points. On the first day of trading, October lived up to its reputation as a volatile stock market month.
For Martin Utschneider, technical analyst at the private bank Donner & Reuschel, the German benchmark index will remain noticeably under pressure in the short term. He expects the Dax to move between 15,263 points on the top and 14,980 index points on the bottom on Monday. The high fluctuation ranges of the past trading days – on Friday alone the range was 280 points – mean one thing above all: the market is extremely nervous and insecure.
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