FRANKFURT (dpa-AFX) - The German stock market remains stable at a high level on Thursday morning with minimal losses. In the US, Wall Street and Nasdaq fell slightly after the close of trading in Europe, following a positive start to trading the previous day, which the DAX is currently mirroring due to a lack of other groundbreaking momentum. Shortly after the start of trading, the German benchmark index fell by 0.2 percent to 24,141 points. The MDAX, which tracks medium-sized companies, gained 0.3 percent to 29,880 points. The Eurozone's leading index, the EuroStoxx 50, remained unchanged at 5,606 points.
"The DAX has so far successfully fought against a further slump," said analyst Martin Utschneider from broker Robomarkets, looking at the chart analysis. An important step in this regard was that the 24,162-point mark was ultimately maintained the previous day. "This is where the 'gap' from October 2 is located," i.e., the level from which the stock market barometer managed to climb to a record high of 24,771 points. As long as nothing changes, the path to the top, even beyond the previous record, remains open, according to Utschneider.
However, in neighboring France, which is heavily indebted and shaken by a political crisis, the next votes of no confidence are on the agenda today. They are likely to be closely watched by investors, as they could shake the stock markets. However, portfolio manager Thomas Altmann of QC Partners expects Sebastien Lecornu to have a good chance of surviving them and remaining prime minister. This would spare the stock markets the uncertainty of new elections./ck/zb
