Here you go DD, it's just like Joe says:
Tuesday May 26, 2:39 pm Eastern Time
German DAX seen extending rise to new highs
FRANKFURT, May 26 (Reuters) - German shares were expected to continue their run this week
after positive earnings reports and forecasts sent shares to new record highs on Tuesday.
By 1402 GMT, the Xetra DAX index of 30 blue-chip issues was trading up 1.13 percent at
5,655.44 points after earlier reaching a new intraday high of 5,671.52. In bourse trade, the DAX
index closed at 5,644.29, its fourth consecutive record.
''At this rapid pace I wouldn't rule out the market reaching 6,000 by mid-July,'' one dealer said.
Also boosting shares was a stronger dollar, which traded at 1.7711 marks.
Dealers said the market was being fuelled by investors buying rather than speculators, who tend to
trade shares for short-term gain rather than holding them.
But they added that the absence of speculators did somewhat trim volumes traded, though liquidity
remained fairly high after months of corporate dividend payments.
''The gamblers were out and this had an effect on the turnover. The investors are buying,'' one
dealer said.
Tentative starting gains on Wall Street dampened the DAX in late trade and when the Dow slipped
into negative territory German shares began retreating from their highs |
