Dax down after government recession forecasts

Dax down after government recession forecasts

Frankfurt The German stock market remained without a clear direction on Wednesday: After the leading index Dax was initially slightly in the red, it turned positive after the publication of the EU industrial production data. After the publication of the federal government’s economic forecast, the leading index fell again: At the end of trading, it was 0.4 percent down at 12,172 points. He fell for the sixth day in a row.

The Euro Stoxx 50, made up of the large listed companies in the euro area, closed 0.3 percent down. The MDax of medium-sized German companies closed 1.3 percent down at 21,894 points.

On Tuesday, the Dax closed 0.4 percent lower at 12,220 points. The price gains from the first strong days of October have largely been wiped out after five weak trading days.

So far, the psychologically important mark of 12,000 points has held. In view of the mixed trading days on Wall Street, this is astonishing, says Thomas Altmann, portfolio manager at QC Partners.

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