FRANKFURT (dpa-AFX) – The DAX closed with slight losses on Tuesday after nine consecutive days of gains. The failure of CDU leader Friedrich Merz to be elected as the new German chancellor in the first round of voting caused considerable uncertainty on the market at times and sent the DAX back below 23,000 points.
However, with the election successful in the second round, the way should now be clear for extensive investment projects, particularly in the defense and infrastructure sectors. These had been the key drivers of the strong and above-average performance that had sent the DAX to a record high of 23,476 points in mid-March.
The German benchmark index closed the day down 0.41 percent at 23,249.65 points. The MDAX, which represents medium-sized companies and is a better reflection of the German economy than the DAX, which is dominated by global corporations, lost 0.90 percent to 29,350.23 points.
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