FRANKFURT (dpa-AFX) - The DAX continued its recovery from its November low on Tuesday. However, one day before the US Federal Reserve's interest rate decision, investors were only taking moderate risks. "We are seeing a stock rally with the handbrake on," commented market analyst Jochen Stanzl from Consorsbank.
In the end, the DAX rose 0.49 percent to 24,162.65 points on Tuesday. It thus moved further away from the 24,000-point mark toward the upper end of the November range, which had been broken in the middle of last month by a price slide lasting several days. Since its low on November 21, the leading German index has now climbed more than five percent.
The MDax also managed to gain 0.22 percent on Tuesday in the wake of the Dax. The index of medium-sized stocks closed at 29,729.05 points.
When the Fed announces its key interest rate decision on Wednesday evening, a small interest rate cut of 0.25 percentage points is already considered to be priced in. According to Stanzl, investors are acting "without much conviction" ahead of this. He assumes that they will only make major repositioning moves after that, or perhaps even in the new year./tih/jha/
