Dusseldorf The effects of the ECB interest rate hike on the stock market have so far been manageable. The Dax also rose by 0.3 percent to 12,947 points in the first hour of trading this Friday. In the last two trading days, the closing level was just above 12,900 points.
A decisive jump over the psychologically important mark of 13,000 points is a prerequisite for a more sustainable recovery. Although the stock exchange barometer managed to surpass this round mark immediately after the start of trading yesterday, Thursday, it slipped again just a few minutes later.
For Jochen Stanzl from CMC Markets, the Dax still has “the chance of bottoming out if it exceeds the mark on a sustained basis, which would be an amazing development given the numerous negative factors”. The market could end up climbing that same wall of doubt, simply because the bad news is already out. But the signal for this is still missing.
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