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German leading index: As if nothing had happened


The bull and bear can be seen above the DAX logo on the stock exchange.
Image: dpa

The Dax closes 2020 with a plus of 3.5 percent. A decent year for stock investments. But it only gets exciting under the surface.

E.A smooth sea surface can be deceptive. Here a nasty current, there a pointed rock just below the surface, then possibly a huge iceberg. Not to mention uncomfortable fish. Those who are afraid prefer to stay on land. But that misses the considerable joy that a nice boat trip or even a dive can bring.

Anyone who went traveling with the Dax 2020 has experienced a lot. January and February had a wonderful outlook. The sky is the limit. Or at least 14,000 Dax points. But then Corona came. An iceberg that was known from hearsay, but suspected to be in China or at least on Italian coasts. Some said the ship was going to sink. The Dax dropped to 8255 points in March. But the European Central Bank sent a lot of lifeboats, the leaky ship was covered with countless banknotes. And lo and behold: it pulls itself up again. The music on board continues playing as if nothing was there. The sea surface is smooth again, the prospects are good – at least if you turn your back on the dark clouds. Even a little hop over the February record to 13,903 points is granted to the Dax travelers shortly after Christmas.

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