Frankfurt Stock Exchange
Moderate gains on the German stock market
The Dax is the most important share index in Germany. Photo: Fredrik von Erichsen / dpa
© dpa-infocom GmbH
The German stock market lost momentum after the latest price rally. The leading index Dax moved very little in early trading and was most recently 0.17 percent up at 16,179.62 points.
The German stock market lost momentum after the latest price rally. The leading index Dax moved very little in early trading and was most recently 0.17 percent up at 16,179.62 points.
This means that the stock market barometer remains within striking distance of the record high of November at 16,290 points.
Since the Dax’s most recent low on December 20, at 15,060, the index had risen by a good 1100 points, or more than 7 percent. “The year got off to a good start,” stated stock exchange expert Christoph Geyer. “Now the old top brand from November last year has come into view”. The Dax now has the chance to reach and overcome this mark in the coming days.
The MDax of medium-sized companies rose by 0.13 percent to 35,573.53 points in the middle of the week. The leading Eurozone index EuroStoxx 50 almost stood still.
The focus was on Uniper’s shares. Because of the turbulence on the raw material markets, the energy company obtained billions in support from its parent company Fortum and the KfW development bank. According to Uniper, the background for the financing requirements are security payments, the amount of which depends on the general raw material price level. The Uniper papers lost 2.6 percent at the MDax end.
Stocks from the automotive industry were in some cases strongly moved by a study by the US bank JPMorgan. Analyst Jose Asumendi wrote that he is cautiously entering the new year with a view to auto suppliers. The increase in auto production could be less than partially expected, which could weigh on investor sentiment.