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Addendum to the previous update on the DAX
Following on from the previous update noting the recent falls in the DAX, here is come more colour on what looks to be behind the move. Shares in the Bavarian automating giant, BMW have taken another hit today following downgraded margin advice by the company. Hence, we now see another German automaker making the headlines (VW the the other week) and not for the right reasons either. As stated before, the old adage used to go; that you can judge the health of an economy by the state of its car industry. Well, if that still rings true, then Germany is not in a good place right now. Since the previous update, the DAX came close to a break below 18,300, but it hs bounced slightly now, currently trading at 18,345
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