FRANKFURT (dpa-AFX) - The DAX rose slightly on Tuesday, continuing its recovery from its November low. However, investors are likely to remain cautious ahead of the US Federal Reserve's interest rate decision expected on Wednesday evening. "We are seeing a stock rally with the handbrake on," commented chief market analyst Jochen Stanzl of Consorsbank at the start of trading. Investors were proceeding cautiously, "but without much conviction."
The German benchmark index rose slightly by 0.4 percent to 24,141 points in the first few minutes of trading. Since its low in November of below 23,000 points, the stock market barometer has now climbed by just over 5 percent and, since Friday, has once again surpassed the 24,000-point mark.
However, the DAX currently remains within its Friday trading range. Although the index has surpassed the 50- and 100-day moving averages, which are considered barometers for medium- and long-term trends, it is struggling to move beyond them. Nevertheless, the year has been good so far, with a gain of 21 percent.
The MDAX index of medium-sized stocks was up slightly at 29,683 points. The Eurozone index EuroStoxx 50 gained 0.3 percent to 5,743 points.
