DAX-FLASH: Fresh momentum after China data – US employment report expected | 11/1/19


FRANKFURT (dpa-AFX) – After the small setback on Friday for the Dax (DAX 30) is clearly off again: The broker IG estimates the German leading index about two hours before the start 0.6 percent higher to 12 944 points. The Dax is back to the annual high on Monday at 12 986 points and ultimately the round mark of 13 000 points.

"Many in the stock market today are pleased with the strong Chinese Caixin purchasing managers' index," said portfolio manager Thomas Altmann of QC Partners. The mood measured by the business magazine of the same name has surprisingly improved among the smaller and medium-sized companies in China. "This is a strong sign of life from the Chinese economy," says Altmann.

However, after the recent three-week Dax rally, investors should consider potential profit-taking ahead of the US labor market report. Already in the past few days, the bulls have been harder to keep the index at its high level./ag/jha/

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