FRANKFURT (dpa-AFX) - After a lethargic session on Wednesday, the DAX closed virtually unchanged. After initially looking set to continue the slight recovery from Monday's slide that had begun the previous day, the stock market barometer fell again by the closing bell. The German benchmark index then closed with a slight loss of 0.07 percent at 23,693.71 points. This continues the stalemate below 24,000 points.
The MDax index of medium-sized stocks was down 0.67 percent at the close of trading, ending at 29,326.19 points.
There was also a lack of major momentum from the US in the middle of the week. Investors there were also cautious, although observers said the surprisingly weak report from private employment services provider ADP for November provided further fuel for interest rate cut speculation.
Market observer Timo Enden fears that the volatile stock markets could continue. "Investors are unlikely to be tempted into making larger commitments, as the macroeconomic situation remains fragile." Christine Romar of CMC Markets therefore predicts that the DAX is likely to continue its sluggish sideways trend between 23,500 and 23,900 points – "at least until the Fed meeting next Wednesday."
There were noticeable price movements among individual stocks in Germany, with Hugo Boss investors shocked by the fashion group's outlook. The shares plummeted to their lowest level since April and closed almost ten percent lower in the evening./tav/mis
