The DAX started trading up 0.73 percent at 12,063.09 points. As the year progresses, the leading German index continues to work its way into the profit zone and at times even surpasses the 12,100 mark. It is currently up 0.50 percent to 12,035.65 points.
The US stock exchanges countered the previous day’s recovery with massive losses on Thursday, which also weighed on trading in Asia again. The European exchanges had anticipated much of this. According to the Credit Suisse experts, however, the mood remains clouded by concerns about inflation, interest rates and the economy.
DAX records deep red September
A deep red month is coming to an end on the German stock market. Persistent concerns have pushed the price barometer down by more than 6.5 percent since the end of August. The DAX 2022 was only worse in June, when it fell by a good 11 percent. “The mood is just too depressive,” said portfolio manager Thomas Altmann.
In the past, a depressive mood was always breeding ground for a trend reversal, Altmann continued. But when exactly it will come and how far it may go down beforehand cannot be predicted.
Ukraine war in focus
The news from the Ukraine initially does not encourage much to buy on the stock market. The Russian President Wladimir Putin recognized the occupied Ukrainian territories of Cherson and Zaporizhia as independent states in another act contrary to international law. The recognition of the Luhansk and Donetsk regions in February preceded the Russian invasion.
New record value: Inflation in the euro zone rises even more sharply than expected in September
According to Eurostat, consumer prices rose by 1.2 percent compared to the previous month and were 10.0 (August: 9.1) percent above the level of the same month last year.
Editorial office finanzen.net with material from dpa-AFX
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