0818 GMT - Germany's DAX index doesn't reflect the country's harsh economic meltdown or political problems, Swissquote Bank senior analyst Ipek Ozkardeskaya writes. After a no-confidence vote in Scholz's government passed on Monday, the country has now joined its French neighbors in political gridlock and economic uncertainty, she says. However the DAX index is still near its all-time high despite a small retreat on Monday. The index rallied above the 20,000 mark this month, pulled up by technology heavyweights like SAP and Siemens, she writes. The strength of the DAX has somehow hid the misery of German carmakers, which are struggling with declining sales and increased competitiveness, she adds. The DAX trades down 0.25% at 20,263. (adam.whittaker@wsj.com)
(END) Dow Jones Newswires
December 17, 2024 03:18 ET (08:18 GMT)
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