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DAX-FLASH: Strong optimism keeps recovery rally going message

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FRANKFURT (dpa-AFX) – After the brilliant start to the shortened trading week, there are no signs of fatigue on Wednesday at the Dax. The broker IG estimates the leading German index a further two hours before the start of Xetra at 12,145 points. The recovery of the mark of 12,000 points, which had begun the day before, seems to the Dax to succeed in the first attempt even after more than 10 percent increase in only seven trading days.

“The DAX continues to run with 7-mile boots,” said portfolio manager Thomas Altmann from QC Partners. “What we’re seeing is no longer just hope and optimism, it’s euphoria.” It is therefore advisable to exercise caution and not to neglect the downsides. Because: “The news situation from China remains unclear,” said Altmann. “At the moment it is simply not clear to what extent China is implementing the provisions of the phase 1 trade deal with the United States.”

At first, however, optimism with a view to a rapid economic recovery from the Corona crisis rules, as confirmed by market strategist Michael McCarthy from CMC Markets. The requirements of the world stock markets are correspondingly strong with a new recovery high in the market-wide US index S&P 500 and profits in Asia./ag/fba



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