FRANKFURT (dpa-AFX) – On Wednesday, the DAX struggled to build on its recent recovery from Friday’s slide. The German benchmark index closed 0.33 percent higher at 23,924.36 points after briefly slipping into negative territory. The MDax index of medium-sized stocks rose 0.45 percent to 30,963.77 points at the close.
“Investors on the Frankfurt Stock Exchange remain torn at the start of August,” wrote market analyst Jürgen Molnar from the trading house Robomarkets. On the one hand, there is continuing uncertainty in trade policy, which is slowing down the German stock market. On the other hand, hopes for interest rate cuts in the US are growing after weaker economic data, which in turn is motivating some buyers to purchase stocks.
According to Molnar, the more technically driven recovery of the DAX in recent days remains on shaky ground. However, no one is asking about the next resistance level of 24,200 points…
