Business · Markets · 9 hrs ago

Germany’s Dax rises 0.9% after a losing week

Germany’s Dax rises 0.9% after a losing week

Germany’s Dax index rose 0.9% to close at 25,411 points on Monday.

The gain followed a previous week in which the index fell about 1.7%.

The Dax has traded within a range of roughly 25,000 to 25,500 points since mid-September.

Investors are watching for new direction as quarterly earnings season gathers pace in Germany and Europe.

Porsche and Beiersdorf are due to report on Tuesday, followed by BASF and Deutsche Bank on Wednesday, then Volkswagen and Adidas on Thursday.

Results from US technology companies Amazon, Alphabet and Microsoft are also expected this week and could shape the market’s direction.

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What people are saying

Thomas AltmannPortfolio manager at QC Partners
The first bargain hunters are venturing onto the trading floor and using the lower prices to enter the market.
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The past few weeks have shown that these bargain hunters quickly take their profits in a rising market and thereby slow further price gains.
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Jörg KrämerChief economist at Commerzbank
Unlike the broad-based purchasing managers’ index, the Ifo business climate has not fallen but has risen slightly.
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