FRANKFURT (dpa-AFX) - Following recent losses in the wake of the conflict in Iran, the Dax stabilized on Monday. The German benchmark index fluctuated around Friday's closing price, most recently trading slightly down at 23,444 points. Commerzbank is also in the spotlight today: the Italian banking giant Unicredit has submitted an official takeover bid.
"The war in the Middle East remains the dominant theme and, with each new week of conflict, proves wrong all those who assumed a short and simple military strike," wrote market analyst Andreas Lipkow from the brokerage firm CMC Markets. Energy prices are thus becoming a real problem that is likely to fully unfold only in the coming months. The consequences should be felt both directly through declining corporate margins and through rising inflationary trends and the resulting consumer restraint.
The MDax, which tracks medium-sized companies, rose by 0.3 percent to 28,898 points. The Eurozone benchmark index, the EuroStoxx, edged down slightly./la/stk
