The DAX hovered near 19,890 on Monday, its lowest level in about four weeks, reflecting a cautious sentiment among European markets as holiday trading remained subdued.
DAX on track for strong yearly gain
Investors focused on the weak economic outlook and the likelihood of continued monetary tightening by the ECB. On Monday, ECB President Christine Lagarde stated that the Eurozone is "very close" to reaching the central bank's medium-term inflation target. Among individual stocks, Volkswagen shares dropped 2.8%, leading losses despite the company reaching a deal with its unions.
To close 2024 up by 19%
For 2024 as a whole, Germany’s benchmark index is poised to gain approximately 19%, overcoming economic and political challenges. This performance is supported by globally oriented companies benefiting from international revenue streams and a weaker euro, which enhances export competitiveness.
