Dusseldorf Wall Street’s recent gains are boosting the German stock market after a multi-day losing streak. The Dax gained 1.2 percent to 12,788 points in early trading on Friday.
On Thursday, the Dax fell 1.6 percent and ended trading at 12,630 points. That was the lowest close since July 14. A few days earlier, the index had reached its low for the year at 12,391. The leading US indices Dow Jones and S&P 500 closed on Wall Street on Thursday with slight gains.
The Dax annual low of 12,391 points is an important level that attracts attention from many investors. If that falls below, further follow-up sales are likely. In this respect, the countermovement on Friday is a small but important step towards stabilization.
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