Of the DAX looks back on one of the most successful weeks in almost two months: the leading German stock exchange index gained more than three percent, on Friday there was another small increase of 0.1 percent, so that the index said goodbye to the weekend at 13,254 points would have. This rally was supported by the resumption of Russian gas supplies via the Nord Stream 1 pipeline, which averted an energy crisis in Germany for the time being. “The security of the future gas supply is only apparent,” warns analyst Jochen Stanzl from the online broker CMC Markets. Price setbacks are therefore possible at any time.
One risk factor is the government crisis in Rome, warns portfolio manager Thomas Altmann from investment advisor QC Partners. “Italy has the potential to become this summer’s horror story. At least until the new elections on September 25, Italian insecurity will not decrease.” Experts doubt that a new government will be as enthusiastic regarding reform as that of outgoing Prime Minister Mario Draghi.
At the start of the new stock market week, investors are primarily looking at the current one Ifo-Index. The index reflects the mood in the German executive floors. Analysts expect July to fall to 90.5 points from 92.3 points in the previous month. The data will be published at 10.00 a.m. The Chicago Fed National Activity Index will not follow until the followingnoon from the USA.
There is a little more going on on the company side, the reporting season is picking up speed in Europe: Kuehne + Nagel, Philips, Ryanair, Vodafone and the DAX group are reporting their results Linde before. Atoss Software also opens the quarterly books.
