Positive signals from companies’ quarterly reporting season pushed the Dax well above the 18,000 point mark on Tuesday. “The decline on the stock market could be over before it really gets going,” commented analyst Konstantin Oldenburger from the trading company CMC Markets. In addition to the strong figures from heavyweight SAP, the results from Munich Re and positive US industry news for Merck KGaA and Sartorius also contributed.
At the end of trading, the leading German index was up 1.55 percent at 18,137.65 points. It thus continued the recovery that began the day before and, on a closing price basis, managed to cross the 21-day line, which is considered a short-term trend indicator, for the first time in a good two weeks. However, it is still a long way from the record high of 18,567 points reached at the beginning of the month. The MDax of medium-sized stocks ultimately rose by 1.28 percent to 26,625.02 points on Tuesday.
