Dax closes little changed

Overall, however, trading was directionless. With minus 0.02 percent to 8494.00 points, the leading index ended the day almost unchanged. The mdax closed down 0.37 percent at 14,823.52 points, after marking a new high in the meantime. Meanwhile, the tecdax rose by 0.45 percent to 1062.79 points.

Above all, the emerging easing of the crisis in syria had given the leading index a decisive boost. "Now the news is out and no longer provides fresh fuel," said market strategist gregor kuhn of broker IG. Instead, the 8500-point level represented a "stubborn resistance". Economic data from the euro zone and the USA also provided mixed impetus.

Once again, the focus was on utility stocks. RWE shares, which were still affected by a sell recommendation from citigroup and a press report on a possible dividend cut in the morning, pared their losses by the afternoon. With a gain of 3.33 percent, they even took the top spot on the dax. Borussians explained the change in direction by covering short positions that had already driven the recent rally and had now reasserted themselves. Eon shares rose by 2.27 percent.

Siemens shares slipped 0.85 percent. Former head of deutsche bank, josef ackermann, wants to give up his position on the supervisory board of the technology group. The 65-year-old confirmed corresponding information of the "frankfurter allgemeine zeitung".

In the tecdax, evotec shares benefited from a cooperation agreement, gaining 6.58 percent. The biotech company announced a strategic partnership with stem cell researchers at harvard university in the U.S. Software AG shares jumped 5.68 percent following a target price increase by goldman sachs. Shares in the former tecdax company singulus also jumped by almost 15 percent. The special machinery manufacturer received a major order from china.

Looking at the stock markets in europe, the eurostoxx 50 fell by 0.05 percent to 2862.07 points and the london stock exchange also closed little changed. At the same time, the leading index in paris lost 0.3 percent. In the U.S.A., the major indices were also little changed at the close of european trading.

On the bond market, the average yield on listed german government securities fell to 1.62 (previous day: 1.66) percent. The rex bond index rose 0.37 percent to 132.37 points. The bund future climbed by 0.29 percent to 137.73 points. The price of the euro rose to 1.3319 U.S. Dollars by the evening. The european central bank (ECB) had set the reference rate at 1.3290 (wednesday: 1.3268) dollars. The dollar thus cost 0.7524 (0.7537) euros.

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