The leading German index is on a downward trend this year – despite the recent recovery.
(Photo: Bloomberg Creative/Getty Images [M])
Frankfurt At the end of the week, investors seem to want to take a breather. After significant losses on Thursday, the leading German index Dax rose by a good one percent in early trading. The Dax moved at 12,668 points. The leading euro zone index, the Euro Stoxx 50, was up 0.8 percent at 3,426 points.
On Thursday, the leading German index closed 1.9 percent down at 12,520 points. The daily low was even 12,434 points.
Disappointing US bank balance sheets had exacerbated the already poor stock market sentiment in Europe. The surprisingly sharp rise in US inflation to 9.1 percent in June is also fueling speculation that the US Federal Reserve will take aggressive countermeasures, which is increasing concerns about an economic crash.
The government crisis in Italy also unsettled. The annual low of 12,391 points for the Dax moved back into the focus of investors.
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