FRANKFURT (dpa-AFX) – The rapprochement in the customs dispute between the EU and China gave the Dax some momentum again on Monday. The leading German index closed 0.89 percent firmer at 18,325.58 points, mainly thanks to the popular car stocks. Despite the profit-taking on Friday, it had recovered somewhat last week and built up a buffer to the 100-day moving average. This is an important technical indicator for the longer-term trend. The MDax of medium-sized companies ultimately rose by as much as 1.61% to 25,703.64 points on Monday.
Analyst Konstantin Oldenburger from the broker CMC Markets commented that the fact that the Dax overcame the high from the previous week right at the start had strengthened the foundations of its recovery. The 18,000-point mark, which is now a good 300 points behind the index, “is now acting as massive support and is becoming a point of reference for investors who are still undecided”. In…
