After a cautious start to the shortened last trading week of the year, the German leading index DAX ultimately made slight gains.
The DAX opened 0.13 percent higher at 16,727.77 points. As trading continued, it showed a positive trend and – despite some fluctuations – was in the black. Ultimately, the German leading index went into the end of the day 0.21 percent higher at 16,742.07 units.
At the start, positive impulses came primarily from the US stock exchanges, which had already resumed trading after Christmas and closed in a friendly manner the day before. Otherwise, however, the environment provided little impetus. “Overall, trading has thinned out considerably and the range of fluctuations remains low,” noted market expert Andreas Lipkow.
Experts see quiet trading in a shortened stock market week
Trading was very quiet this Wednesday as most of the major investors have already closed their books for the year. “On the last trading day before Christmas, the trading volume fell to a four-week low,” said portfolio manager Thomas Altmann from QC Partners and expects low volumes for the remaining trading days of the year. However, he believes that another attempt by the DAX to overcome the 17,000 point mark is entirely possible. “The US indices have impressively shown that records are perhaps even easier to achieve in a thin market,” said Altmann. All three major U.S. stock indexes had gained in thin trading on the first day of trading in the final week of the year, with the S&P 500 hitting its highest level since January 2022.
Appointment calendar empty
There are no important economic data or appointments for companies between the years. However, there could be more significant price movements in individual stocks due to the low turnover.
Annual balance so far positive
Overall, the year that is coming to an end in 2023 is a very successful one for stock investors in this country, as the DAX has gained a fifth of its value since the beginning of the year. In the previous year, however, investors had to cope with a loss of just over twelve percent. The index made most of its gains from the end of October to mid-December – driven by falling inflation and the hope that key interest rates would soon fall. Since its record high of just over 17,000 points, the stock market barometer has given back a small portion of its gains, but is now holding steady.
Editorial team finanzen.net / dpa-AFX / Reuters / Dow Jones Newswires