Dax currently: Dax remains unchanged after a record series - investors test the 26,000-point mark
Profit-taking is setting in on the German stock market - but the leading index is still hovering at a high level. Why this is likely to continue.
After three record days on the German stock market, investors took a breather. The Dax ended Thursday virtually unchanged at 26,140 points. On Wednesday, the key index closed at 26,204 points, down 0.8 percent. Previously, the leading index had marked a best mark at nearly 26,404 points. Despite the recent correction, market analyst Martin Utschneider from Robomarkets said the over-arching chart picture remained stable and marked by an exceptionally high price level.
The profit-taking after the recent rally was normal, said Thomas Altmann of QC Markets. "Moreover, a certain breathing space is healthy for indices that have run so high." The crucial question now is how far the Dax will fall before buying resumes. The psychologically important 26,000-point mark has shifted as the 25,000 to 26,000-point rally progressed.
"Consequently, falling below 26,000 could cause initial unease," Altmann noted. Investors are looking at geopolitics as an ongoing source of unease. Geopolitical tensions have simmered for months. "The absolute wildcard for upcoming trading days remains the geopolitical arena," said Frank Sohlleder of Activtrades. Tensions over the Strait of Hormuz, bordering Iran and Oman, are reportedly nearing an agreement on a new shipping route through the blocked strait.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
