The leading German index is on a downward trend this year – despite the recent recovery.
(Photo: Bloomberg Creative/Getty Images [M])
Dusseldorf On Thursday, the German stock market reacted to the first interest rate hike in the euro zone in eleven years with slight price losses. The leading index Dax ended trading 0.3 percent down at 13,247 points. The Frankfurt stock exchange barometer clearly limited the daily losses of 1.4 percent at the top.
The Dax remained well above the 13,000 point mark that was broken this week. The index had thus ended its five-week downward trend for the time being.
The technical analysts at the major bank HSBC identify the next resistance on the upside at the 55-day line, which runs at around 13,550 points and depicts the medium-term trend. On the downside, the 21-day line, which depicts the short-term trend, offers support for the Dax.
The market reactions of the asset classes to the ECB interest rate decision at a glance:
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