FRANKFURT (dpa-AFX) – The correction in the DAX, which has been ongoing since Friday afternoon, is not expected to continue on Wednesday. The broker IG estimated the German leading index 0.1 percent higher at 18,256 points around two hours before the Xetra start. On Tuesday, the leading German index had slipped back below its 50-day line, falling well below its interim high from Friday lunchtime.
The Dax had ended its most recent recovery after the US labor market data on Friday afternoon just at the technical downward trend since the May record. In May, the Dax had risen to almost 18,900 points. The leading index then fell below 18,000 points for a time in June before recovering to 18,650 points on Friday afternoon.
No fresh momentum is coming from the United States. Technology stocks continued their record-breaking run the previous evening. In the end, however, not much has remained of the significant price gains…
