The DAX started trading at a discount of 0.49 percent at 15,135.50 points and expanded over the course of the day. The stock exchange is currently down 1.55 percent to 14,920.13 points.
End of a choppy trading week
At the end of a turbulent week, the leading German index experienced another setback. The recovery seems to be over for the time being,” according to a market analyst. The DAX initially failed at the resistance area around 15,300 points. On the downside, the 15,000 mark and thus closing the gap above 14,980 are on the agenda.
Things had already been volatile the day before: After falling to 15,078 points, the losses were finally made up for. After the emergency rescue of Credit Suisse (CS) by UBS, which had become surprisingly necessary, the weekly low was even 14,458 points on Monday – the lowest level since the first week of trading in January. Thanks to the strong recovery, the DAX is currently up around 2 percent on a weekly basis.
Mixed specifications
The US stock market closed recovering. After the end of trading in Europe, however, the indices lost ground again. Investors should not be “lulled” by the tense calm, wrote market expert Stephen Innes of SPI Asset Management. The stress in the banking industry will keep us busy.
Fed interest rate decision still having an effect
According to the experts at Landesbank Hessen-Thüringen, market participants are still undecided as to which conclusions can be drawn from the US Federal Reserve’s latest interest rate decision for future interest rates. Despite the banking turbulence, this again had a small one rate hike made, but also gave vague signals for an imminent end to the cycle of increases.
Environment still speaks for the DAX
On the other hand, no major pressure is in sight: oil prices and yields are coming back a little, and the euro has also ended its upward spurt from late Wednesday and early Thursday. “The environment speaks more for the DAX,” says the market analyst.
Editorial office finanzen.net / dpa-AFX / Dow Jones Newswires
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