Despite recent US military strikes against an Iranian drone position near the Strait of Hormuz, the German benchmark index remains robust.
The DAX started trading on Thursday 0.37 percent lower (25,083.77 points) in view of new US attacks in Iran. As he progresses, he can work his way up to the zero line.
US confirms attack on target in Iran
The fact that the US military attacked an Iranian drone-controlled position near the Strait of Hormuz did not dissuade investors from their hopes for a negotiated solution. In addition, four drones were shot down that posed a threat to the United States, a US official said. “These measures were restrained, purely defensive and aimed at maintaining the ceasefire,” it said.
Investors cope with uncertainty
“Bombs instead of white smoke,” was the headline from Commerzbank experts in a market commentary. “At the end of last week it looked as if a deal with Iran couldn’t come quickly enough. In the last few days (as so often) the mood has changed again,” wrote analyst Michael Pfister. The uncertainty also had an impact on the stock exchanges in Asia, where prices in Hong Kong and Sydney in particular suffered on Thursday.
DAX record last in January
The distance from the record level on the German stock market has hardly changed. On January 13th, the DAX reached an all-time high of 25,507.79 points. Ultimately, it ended trading that day at 25,420.66 points, which also set a record based on the closing price.
Benedict Kurschat, Alexandra Hesse, Melanie Schürmann, finanzen.net editorial team with material from dpa-AFX and Dow Jones Newswires