The leading German index has already reached several new record highs this year.
(Photo: Bloomberg Creative / Getty Images [M])
Dusseldorf There is an early year-end rally on the German stock market. The Dax rose to a new record high on Thursday with 16,065 points. The German leading index ended trading 0.4 percent up at 16,030 points – the level of the old record.
The basis for the new price jump was laid by the US Federal Reserve (Fed), which started its monetary policy turnaround on Wednesday evening. That was so expected now the uncertainty is out of the market. At the same time, Fed Chairman Jerome Powell dampened speculation that an interest rate hike was imminent. “The tapering begins – the interest rate turnaround will not happen for the time being,” summarized the Commerzbank analysts.
By reaching a new high, the Dax has also broken the 16,000 point mark. The fact that he ended trading above this level is also a sign of strength. From the point of view of technical analysts, the 16,000 mark has been an important resistance since mid-August.
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