Europe’s major stock indices closed around the flatline on Friday, namely Frankfurt’s DAX 0.1% higher but still near levels not seen since November of 2020 and the pan-European Stoxx 600 ending flat after seeing its sharpest first-half decline since 2008 the previous session. Fresh economic data amplified stagflation fears, as the ECB plans to begin its tightening cycle at its July meeting, after 11 years of ultra-easy monetary policy. Inflation in the Euro Area surged to a fresh record of 8.6% in June, showing no signs of peaking while manufacturing activity slowed in major European economies to levels not seen since 2020, PMI data confirmed. Meanwhile, the ECB started to buy bonds from countries including Italy, Spain, Portugal and Greece with some of the proceeds it receives from maturing German, French and Dutch debt in a bid to cap widening yield spreads, Reuters reported. On a weekly basis, the DAX fell 2.3%, the 5th week of losses in a row, and the Stoxx 600 dropped 1.5%.
Historically, the Germany Stock Market Index (DE40) reached an all time high of 16290.19 in November of 2021. Germany Stock Market Index (DE40) - data, forecasts, historical chart - was last updated on July of 2022.
The Germany Stock Market Index (DE40) is expected to trade at 12201.17 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 11347.18 in 12 months time.