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ROUNDUP / Frankfurt Stocks End: Year-end rally Dax drives close to 16,000 points

Tuesday, 12/28/2021 6:10 PM from

dpa-AFX

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The German financial metropolis Frankfurt am Main. pixabay.com

FRANKFURT (dpa-AFX) – The year-end spurt on the stock market has the Dax brought it back close to the round mark of 16,000 points on Tuesday. The German leading barometer gained 0.81 percent to 15,963.70 points. For the MDax the medium-sized stock market stocks went up by 0.68 percent to 35,301.02 points.

The hope that the Corona variant Omikron would be comparatively mild for those with sickness, price gains on the US stock exchanges and bargain hunters have been giving the Dax a boost for days. The chart technique is also supportive, the index already cleared the hurdle in the 15,800 point range at the beginning of the week. “The short-term upward trend is clearly intact,” stated the UBS experts. In addition, there is now what is known as “window dressing”. The term describes share purchases by investors shortly before the end of the year, in order to be able to show stocks that have performed well in the portfolio, especially during the course of the year.

It was the fifth trading day in a row with profits for the Dax on Tuesday. Since its interim low on the Monday before Christmas, it has increased by six percent. The trading volume shortly before the end of the year is thin, however. It remains to be seen whether the rally will last, wrote market expert Thomas Altmann from asset manager QC Partners. Because at the moment there were already a few buyers enough to move the market. In any case, Omikron is only playing a subordinate role on the floor at the moment. Stockbrokers assumed that the Omikron wave would soon die down, without too much damage to the economy.

On the bond market, the current yield rose from minus 0.32 percent the previous day to minus 0.31 percent. The Rex pension index fell by 0.06 percent to 144.47 points. The Bund future noted down 0.01 percent to 172.31 points./ajx/he

— By Achim Jüngling, dpa-AFX —

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