FRANKFURT (dpa-AFX) – After a somewhat weaker previous week, the DAX fell further on Monday. Ultimately, the leading German index lost 0.48 percent to 23,527.05 points. Market analyst Jochen Stanzl from broker CMC Markets attributed the DAX’s continued “September blues” to the fact that it has been stuck in a narrow trading range for weeks. Meanwhile, the MDAX index of medium-sized companies fell 0.14 percent to 30,153.71 points.
Profit warnings in the automotive industry further dampened the mood on the German stock market. However, market observer Andreas Lipkow believes that these are merely a catalyst for the current price consolidation. “Overall, the automotive sector no longer has a significant weighting in the DAX and has also been under pressure for several years,” wrote Lipkow. There has been repeated talk of a recovery, but this has not yet materialized.
Overall, Lipkow observed a breather on the financial…
