The leading German index is on a downward trend this year – despite the recent recovery.
(Photo: Bloomberg Creative/Getty Images [M])
Dusseldorf The German stock market starts the new week with significant gains: On Monday morning, the leading index Dax was 1.2 percent higher at 14,4783 points – driven by the chemical companies BASF, Covestro and Bayer, whose shares increased by between around two and more than three percent.
Overall, however, the Dax remains in its recent sideways movement. Since March 16, i.e. for almost two weeks, the Frankfurt stock exchange barometer has been in a trading range of around 400 points between the marks of 14,110 points on the bottom and 14,539 points on the top.
As a reminder: In the two previous trading weeks, i.e. at the start of the Ukraine war, the trading range was more than 1600 points. “The news is not good enough at the moment to carry the Dax further up,” comments Thomas Altmann, portfolio manager at asset manager GQ Partners. “But they’re not bad enough to put pressure on the Dax.”
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