The record rally on other important stock exchanges did not affect the leading German index on Tuesday. The gap to the recently reached record level is increasing somewhat further.
The DAX initially lost 0.33 percent to 24,228.18 points on Tuesday. Afterwards he remains in the loss zone, but the deductions are now somewhat smaller.
Initially no further records in sight
It was only on October 9th that the DAX reached a new record high of 24,771.34 points. Ultimately, it ended that day at 24,611.25 units, which was also a new record based on the closing price.
The DAX is still unable to follow the record rally on other important stock exchanges. With a somewhat weaker start, the German leading index remained far away from its record on Tuesday, while the record hunt in New York continued the evening before in anticipation of an early agreement in the US-Chinese customs dispute. On the German market on Tuesday, quarterly reports and sometimes bleaker outlooks from companies were not well received.
Lack of dynamism
According to chart expert Martin Utschneider from the broker Robomarkets, the DAX continues to trend sideways and a dynamic like that in the USA is unlikely to arise here. Apart from a brief downward outlier, the German leading index has been moving in a narrow range for two weeks now, which is around 400 points wide from the psychologically important mark of 24,000 points. “The DAX is quite well protected on the downside. But on the upside it is still capped,” said Utschneider.
Reporting season in focus
If hope in the US-Chinese trade dispute does not help much in this country, the reporting season and the interest rate decisions expected from Wednesday by the US and US central banks will remain Eurozone as potential price drivers. On Tuesday, in addition to the figures from Symrise and the Deutsche Börse, there will also be key data and outlooks from companies such as Nordex, Hypoport and SUSS MicroTec to process.
Editorial team finanzen.net / dpa-AFX / Dow Jones Newswires