Dax starts the week weaker - public holiday in the USA dampens trade

Dusseldorf. The Dax started trading on Monday 0.3 percent lower at 25,976 points. Due to Labor Day in the USA, the stock exchanges there will remain closed today - which means that no major movements on the Dax are expected during the day.

On Friday, the Dax closed at 26,046 points, almost unchanged from the previous day. After three days of losses at the beginning of last week, in which the index lost a total of over 700 points, it stabilized somewhat at the weekend. Finally, it was able to overcome the 26,000 point mark and hold it for two days in a row.

It still seems completely unclear whether the leading index can stay above the mark this week. “Even if investors have obviously been able to shake off the worry cocktail of geopolitical and monetary policy imponderables for the time being, the situation is likely to remain fragile,” says CapTrader chief market analyst Timo Emden.

While there were increasing signals last week pointing to a possible easing of tensions in the Middle East, over the weekend there were again mutual attacks by the USA and Iran on ships in the Strait of Hormuz. Investors are therefore focusing on the persistently high oil prices: concerns about a long-term interruption of oil supplies from the Middle East are increasing.