German stocks wobble

With levels of global growth faltering and credit harder to come by, Germany's Dax index wobbles.

Germany's blue-chip index, the Dax, has gained 75% since the autumn of 2008. But this year the benchmark index has largely moved sideways, while the next few months, reckons Handelsblatt, will be tough going. The Dax is one of the world's most cyclical markets and highly geared to global growth. Over 50% of the index is made up of sectors sensitive to the economic cycle. Germany is a leading exporter and 66% of German firms' revenues come from abroad.

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