FRANKFURT (dpa-AFX) – The German stock market stabilized on Monday despite the continuing escalation of the war in the Middle East. The most important indices rose slightly again after their recent losses. “The stock market is still assuming that the conflict will be limited,” wrote market analyst Jochen Stanzl from the trading house CMC Markets. In addition, oil prices rose only moderately after Friday’s sharp increase. This also took some pressure off stocks.
The DAX gained 0.3 percent to 23,582 points in early trading. This meant that the local benchmark index at least initially held on to important support just above 23,400 points and also remained above its interim low of 23,360 points, which it had fallen to on Friday in its initial reaction to the Israeli attack.
The MDax index of medium-sized stocks was up 0.6 percent at 29,922 points. The Eurozone’s leading index, the EuroStoxx 50, rose by 0.4 percent.
