FRANKFURT (dpa-AFX) - After a two-week recovery, the DAX struggled to make further gains on Monday. Two days before the eagerly awaited interest rate decision by the US Federal Reserve, the leading index had to fight to stay in positive territory until the end of trading. It also had some difficulty defending the 24,000-point mark, which it had recently surpassed.
The DAX crossed the finish line 0.07 percent higher at 24,046.01 points. Since its recent low of below 23,000 points in November, the price barometer has gained five percent at its peak. Investors are now in wait-and-see mode following this rally. Against this backdrop, the MDax index of medium-sized German stocks fell by 0.11 percent to 29,665.08 points on Monday.
The wait-and-see attitude is likely due primarily to the US Federal Reserve's interest rate decision on Wednesday. JPMorgan strategist Mislav Matejka warned of a priced-in interest rate cut and the risk that investors could take profits at the end of the year. Another topic of discussion was rising yields on the US bond market, which are making fixed-income investments more attractive again./tih/jha/
