FRANKFURT (dpa-AFX) – “Stabilization after yesterday’s losses” is the motto on the German stock market on Wednesday. However, investors are cautious and are staying on the sidelines in view of the situation in the Middle East and the key interest rate decision in the US this evening.
Shortly after the start of trading, the German benchmark index DAX was virtually unchanged at 23,427.54 points, down 0.03 percent, after losing just over one percent the previous day. The important support level of around 23,400 points thus remains intact.
At the same time, the MDax index of medium-sized companies fell by 0.14 percent to 29,679.55 points. The EuroStoxx 50, the leading index for the eurozone, remained unchanged at 5,288.73 points.
“The escalation in the Middle East is putting investors’ bargain-hunting mentality to the test,” commented Jochen Stanzl of CMC Markets. The market has lost the lightheartedness of recent…
