German Stock Market Pain Seen Just Beginning Should Greece Exit
ByThe tumble in German stocks has already breached a level that constitutes a correctionand could go another 10 percent should Greece exit the euro.
So say Ralf Zimmermann of Bankhaus Lampe KG and UniCredit Bank AG’s Christian Stocker, who forecast the DAX Index could slip as low as 10,000. Even in a more likely scenario where Greece and its creditors compromise, the decline probably isn’t over and the benchmark gauge may hit 10,500, Zimmermann said.
A rebound in the euro coupled with losses in German bunds has made the DAX the second worst-performing index among developed markets this quarter. Greek debt negotiations are stalling, and European officials are preparing for a potential default and exit from the euro…
German Stock Market Pain Seen Just Beginning Should Greece Exit
