FRANKFURT (dpa-AFX) – After two consecutive days of losses, the DAX managed a modest rebound on Wednesday. Negatively received data from private service provider ADP regarding the US labor market only temporarily cost Germany’s leading index its daily gains. Ultimately, even US stock markets reacted only briefly to the data, stabilizing and even turning positive by the close of European trading.
By the end of trading, the German benchmark succeeded in reclaiming its 21-day moving average, which sits just below 23,745 points. This line signals the short-term trend. The DAX closed the day up 0.49 percent at 23,790.11 points.
The MDAX, which tracks mid-sized companies, ended Xetra trading up 0.16 percent at 30,294.88 points. The Eurozone’s leading index, the EuroStoxx 50, advanced 0.69 percent to 5,318.72 points. Moderate gains were also recorded on the Zurich exchange, while London saw a slight decline. Meanwhile,…
