FRANKFURT (dpa-AFX) – After its breakthrough in the middle of the week, the DAX continued its climb toward its record high on Thursday. The leading German index closed 1.28 percent higher at 24,422.56 points, after briefly rising above 24,500 points.
According to capital market strategist Jürgen Molnar from the trading house Robomarkets, this is the last resistance level before the record high of 24,639 points set in July. The stock market is ignoring the shutdown in the US at the start of the strongest stock market quarter of the year, as well as other risk factors, the expert noted. For analyst Frank Sohlleder from broker Activtrades, the current strength of the stock markets is closely linked to expectations regarding US monetary policy. In view of the recent weak US labor market data, the markets consider a further interest rate cut by the Fed at the end of October to be a certainty.
The MDax, which tracks…
