The stock market day: DAX recovers

The stock market day
DAX recovers

09.09.2024, 17:38

The German stock market performed well at the start of the week. After Friday's price slide, investors attempted a tentative recovery. There were no real arguments to buy. “The uncertainty among investors is currently enormous. Confidence in stocks has noticeably diminished,” said asset manager QC Partners.

The DAX closed Xetra trading with a gain of 0.8 percent to 18,444 points. The EUROSTOXX50 Was 0.7 percent higher at 4771 points. On the equipment market, the euro under pressure and fell to 1.1037 US dollars.

Headwinds came from China at the start of the week. Consumer prices rose more sharply than they have in six months due to more expensive food. “In contrast to other countries, however, inflation in the People's Republic remains very low,” stated Commerzbank analyst Volkmar Baur. “This development reflects the weak domestic demand in China, which continues to weigh on growth in the world's second-largest economy.”

Lost in the individual values Kion in the MDAX 3.1 percent. The forklift manufacturer's shares suffered a downgrade after analysts at Citi Bank downgraded the stock to “neutral” from “buy” and warned of sluggish growth in the domestic market in the near future.