12.05.2020 DAX 30 Daily Analysis

12.05.2020 DAX 30 Daily Analysis

Germany's Dax 30 had a mixed session on Monday eventually closing with a 0.73% decline. Shares from the Retail, Financial Services, and Pharmaceutical & Healthcare sectors pushed the Index up while construction and Technology pushed the stock down. So far the European Union's biggest economy is still at loggerheads with the Union's biggest bank after the country's top court ruled that the government and EU's top judges failed to scrutinize the ECB's bond-buying program. This threatens some action from the EU on Germany and this might further push the index down. However, retail stocks were some of the major pushers of the index on Monday because retailers are slowly reopening and picking up pace after more than two months on lockdown. The best performer was Wirecard AG which rose 8.62%to close at 91.440 while the worst performer was Heidelbergcement AG O.N. which fell 4.59% to close at 42.150. Overall the Dow closed at 10824.99 and opened even lower at 10778.55