FRANKFURT (dpa-AFX) – Thanks to a new attempt at recovery on the US stock markets, the Dax managed to move into the profit zone on Thursday. After the recent turbulence on financial markets around the globe, the German leading index had recovered on Wednesday for the first time since the beginning of August and recouped its losses from the start of the week. It has now stabilized further, gaining 0.37 per cent to 17,680.40 points. Robust weekly US labor market data provided support. Overall, however, the stock markets are still in choppy waters.
According to chief market analyst Jochen Stanzl from the broker CMC Markets, the 17,400-point mark is an important technical support level, meaning that a weekly close below this level would put additional downward pressure on the DAX. At the same time, stock markets are generally in “the seasonally weakest time for equities all year”, which is why a sustained bottoming out of the…
