FRANKFURT (dpa-AFX) - After a volatile previous week, the DAX opened Monday trading slightly higher. Shortly after the Xetra opening, it gained 0.35 percent to reach 25,001 points. The MDAX, which tracks mid-cap German stocks, rose by 0.36 percent to 31,410 points. The Eurozone's leading index, the EuroStoxx 50, posted a similar gain.
Overall, the week appears to be starting off quietly. In the United States, Monday is a public holiday and the stock exchanges are closed. Trading was also paused on some Asian markets, for example in China due to the Lunar New Year celebrations. Key economic data from the US and Europe is not expected until later in the week.
The closure of the US markets at the start of the week will likely be a welcome relief for many, after last week's concerns over artificial intelligence triggered significant volatility, explained analyst Matthew Britzman from British asset manager Hargreaves Lansdown.
Last Thursday, the DAX climbed as high as 25,239 points, coming within sight of its record high of just over 25,507 points. However, this breakout attempt above the technical barrier around the 25,000 mark ultimately failed. On Friday, the DAX at least managed to hold above its 21-day moving average.
Jochen Stanzl, market analyst at Consorsbank, wrote: "In recent weeks, investors have shifted their money from AI stocks into blue chips and established companies, hoping to find a relatively safe investment there. However, the losses seen in logistics and financial stocks last week showed that even well-established companies are not immune to AI disruption." This, he said, increases uncertainty./ajx/mis
