European stocks closed sharply in the red on Thursday, tracking losses on Wall Street, with autos shares among the worst performers as investors worry about US and China trade dispute and the impact on global economic growth. Also, recent Markit Economics data showed a further contraction in Eurozone and Germany manufacturing activity and a slowdown for the US. The DAX 30 slumped 216 points, or 1.8% to 11,952; the FTSE 100 dropped 103 points, or 1.4% to 7,231; the CAC 40 fell 98 points, or 1.8% to 5,281; the IBEX 35 lost 118 points, or 1.3% to 9,114 and the FTSE MIB declined 437 points, or 2.1% to 20,137. Historically, the Germany DAX 30 Stock Market Index reached an all time high of 13559.60 in January of 2018 and a record low of 372.30 in November of 1974.
The Germany DAX 30 Stock Market Index is expected to trade at 12203.92 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 11755.36 in 12 months time.