FRANKFURT (dpa-AFX) – The Dax once again bared its teeth at the 19,000-point mark on Wednesday. The leading German index closed 0.41 percent lower at 18,918.50 points, also due to significant price losses by heavyweight SAP. This means that a new record high is yet to come. The MDax of medium-sized companies, on the other hand, managed a gain of 0.9 percent to 26,317 points.
The Dax had reached its previous high of 19,044 points on Thursday – after the significant US interest rate cut the previous evening. Since then, the end of the line has been around 19,000 points – despite the expected further easing and support measures by the Chinese central bank for the economy of the People’s Republic.
Analyst Konstantin Oldenburger from broker CMC Markets commented that the DAX’s breakout had been slowed down by SAP’s surprising storm and had not been reversed. “Sellers are still in the minority on the Frankfurt stock…
