The leading German index has already reached several new record highs this year.
(Photo: Bloomberg Creative / Getty Images [M])
Dusseldorf Weak start to the week on the German stock market: After three trading days in the profit zone, the Dax loses 0.7 percent in Monday trading. At the close of the market there were 15,474 points on the display board.
The prospects for were already rather modest at the start of trading. Weak economic data came from China. The gross domestic product (GDP) rose in the period from July to September by 4.9 percent compared to the previous quarter and thus slower than it has been for a year. And house sales plummeted by more than 17 percent in September, presumably due to the turmoil surrounding real estate company Evergrande.
On top of these weak fundamentals, there is a difficult short-term market environment. After the significant price gains in the past few days, the Dax has risen too quickly too high by more than 450 points, which is more inviting to sell. According to chart technology, an increase over 15,600 counters is also opposed to important and not easy to overcome resistance.
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