FRANKFURT (dpa-AFX) - The DAX is likely to start September with slight gains on Monday. Two hours before the Xetra opening, broker IG valued the leading German index 0.2 percent higher at 23,952 points. This would keep the leading index just below the 24,000-point mark, which it slipped below last week. Above this, the record set in mid-July at 24,639 points remains within sight.
Initially, no impetus for a move toward the record high is expected from the US on Monday. Due to the holiday, trading there will not start until Tuesday in September—a month that is not particularly popular among investors. According to IG Markets expert Christian Henke, the September balance sheet is "not too rosy, as is well known," before the "golden autumn" once again ushered in an impressive final quarter in October.
However, experts at JPMorgan believe that a six-month consolidation of European stocks could end soon. "We believe that the time is approaching to invest in the eurozone again," wrote strategist Mislav Matejka this morning. He sees a buying opportunity in the next one to two months, provided that there is a little more clarity in economic and political terms. Currently, a court ruling in the US is raising questions about the effectiveness of Donald Trump's import tariffs./tih/zb
