Against the background of weak industrial data, the German stock market is attempting to stabilize this Thursday. In the late afternoon, the leading German index was down 0.3 percent at 12,477 points.
The daily high was 12,643 points at around 9.30 a.m., since then it has been going downhill. On Wednesday, too, the Dax ended its initial recovery rally and went 1.2 percent lower from trading.
During a recovery phase earlier in the week, the Dax had gained almost 800 points. “In order to turn the positive days into an upward trend, the Dax would have to recapture the psychologically important 13,000 point mark. However, there is still a long way to go until then,” comments Thomas Altmann, portfolio manager at QC Partners.
The MDax of medium-sized stock exchange companies is almost unchanged at 23,022 points. The leading euro zone index, the Euro Stoxx 50, lost 0.3 percent.
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