(ADPnews) - Sep 14, 2009 - The blue-chip DAX index of the Frankfurt Stock Exchange (FSE) closed at 5,620.24 on Monday, down by 0.07% or 3.78 points, after the rally in the past six days, mainly due to profit takings.
Some traders explained the negative trend with the usual volatility before the so-called Freaky Friday, which is due this week, as investors are trying to manipulate the stocks in the desired direction.
The simultaneous expiry of stock index futures, stock index options and stock options, which characterises the Freaky Friday - that is, the third Friday of every March, June, September and December - precedes the reshuffling of the DAX, to take place on Monday.
DZ Bank experts said they were skeptical about the DAX performance in the coming seasonal weak months. They also suggested investors make use of relapses in order to benefit from a future recovery.
DAX futures closed up 0.02% to 5,615.00.
During the session the index touched a high of 5,623.74 and a low of 5,532.30.
Top gainer was sports goods maker Adidas (ETR:ADS), rising 2.49% to EUR 33.73.
Next was retail group Metro AG (ETR:MEO), advancing by 2.15% to EUR 37.08.
Third closed pharmaceutical group Bayer AG (ETR: BAY), up by 2.08% to EUR 46.70.
In deepest red closed car producer Volkswagen (ETR:VOW), down by 2.06% to EUR 125.20.
Second from the bottom was Commerzbank (ETR:CBK), falling 1.63% to EUR 8.150.
Third-worst performer was utility E.on AG (FRA:EOAN), losing 1.28% to EUR 28.53.
Shares with a volume of EUR 2.557 billion were traded on Monday. The most sought-after stock was Deutsche Bank (FRA:DBK), generating EUR 229.09 million of the volume. The lender closed at EUR 49.30, down 0.93%.
(EUR 1 = USD 1.459)
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