The leading German index is on a downward trend this year – despite the recent recovery.
(Photo: Bloomberg Creative/Getty Images [M])
Frankfurt Investors held back for long stretches on Monday. During the day, the leading German index, the Dax, swung sideways without a clear direction. Only in the late afternoon did it turn significantly into positive territory and was up 0.5 percent at 14,518 points at the close of trading. The Eurostoxx50 also showed a clearly positive trend late in the year. He noted at 3956 points.
“I think in the short term the deciding factor will be what happens with the sanctions, whether or not they have peaked,” said Mark Haefele, chief investment officer at UBS Global Wealth Management.
Chancellor Olaf Scholz has announced further sanctions against Russia because of allegations of Russian war crimes. Ukraine blames Russia for the deaths of dozens of civilians in the city of Bucha, north of Kyiv. Britain and France are also pushing for new sanctions.
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