The DAX remains directionless. After closing with a slight loss of 0.37 percent at 23,718.45 points, investors are still at a loss as to which direction the leading index will take in the coming days and weeks. The French political crisis is largely leaving the DAX cold, which for now has dispelled fears of major disruptions. The focus of market participants is now shifting back to the US, where important inflation data is expected, and to the ECB, which will soon set its key interest rate. These events could provide the long-awaited impulse to free the DAX from its trading range.
BMW weak: These Stocks Are Defying the Downturn!
A few individual stocks managed to defy the general caution. Sartorius gained 1.9 percent, while Deutsche Bank and Siemens Energy each recorded a gain of 1.7 percent. In contrast, BMW shares had a bad day, taking the last place with a hefty loss of 4.2 percent. This accelerated the stock's correction, which, despite its recent strong uptrend, lost ground again.
DAX Struggles for 24,000 Points: Will the Index Find a Direction?
Investors will likely need to continue to be patient, as the ECB's decision and the release of US inflation data will set the crucial course. From a technical perspective, the DAX has so far simply failed to sustainably surpass its most recent high. This suggests that the index needs a powerful tailwind to leave the trading range below 24,000 points and launch an attack on the record highs.
Will the DAX awaken from its lethargy and be able to overcome the decisive hurdles?
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