FRANKFURT / LONDON (IT BOLTWISE) – The German leading index DAX is showing resilience this week, despite posting slight losses on Wednesday. Despite disappointing figures from US companies such as Texas Instruments and Netflix, the DAX remains above the 24,000 point mark. The upcoming reporting season in Germany could continue to influence the market in the coming days.
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The DAX, Germany’s leading stock index, has shown remarkable stability this week, despite suffering slight losses on Wednesday. The index fell 0.14 percent to 24,296.16 points at the start of the trading day and ultimately closed 0.74 percent lower at 24,151.13 points. Despite these declines, the DAX remains above the psychologically important mark of 24,000 points that it regained at the beginning of the week.
On Monday, the DAX managed to cross the 24,000 point mark again after falling below it the previous Friday. This recovery shows the resilience of the market, even if the record high of 24,771.34 points reached on October 9th is still a long way off. The closing price on that day of 24,611.25 points also marked a new record on a closing price basis.
A key factor in the recent development of the DAX is the company figures from the USA. While some companies delivered positive results, others such as semiconductor manufacturer Texas Instruments and streaming service Netflix disappointed. These mixed signals from the USA influenced the German market, but did not derail it.
In Germany, attention is now turning to the upcoming reporting season. The software company SAP will publish its quarterly figures on Wednesday evening, followed by ATOSS Software, MTU Aero Engines and Beiersdorf on Thursday. The sports car manufacturer Porsche will present its results on Friday. These reports could further influence the DAX in the coming days and possibly provide new impetus.
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