Handelsblatt editor Jürgen Röder on long-term perspectives for the Dax – and the question: When will a correction start?
(Photo: Getty Images)
Dusseldorf The leading German index Dax is an unusual stock market barometer. While the most important indices worldwide are calculated without taking into account dividends, the Frankfurt benchmark is a performance index in which the dividend payments of the respective companies are taken into account. This makes it difficult to compare with other indices.
A simple example shows this: The Dax price index without dividends has risen by less than 50 percent in the past ten years, while the performance index has almost doubled in this period. That’s why it’s worthwhile for investors to take a look at the “honest” Dax, because without the dividends it can be better compared with other stock market barometers.
But the chart of the Dax price index also signals an intact upward trend. According to calculations by Jörg Scherer, head of technical analysis at Bank HSBC Germany, this remains intact as long as the price index remains above the round level of 6000 points. It is currently trading at around 6250 points.
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