Goldman Sachs: Time to buy DAX index

The disappointing data for Germany, released on Thursday, showed that the country’s economy, which is often called the “locomotive” of Europe, fell in the second quarter. However, they did not deter the growing number of market investors, who saw an excellent opportunity to buy on the decline.

Peter Oppenheimer, chief strategist for global equity markets Goldman Sachs, said Thursday CNBC, that, according to current quotes, today’s market – one of the cheapest in the world.

“Strategically, it looks pretty cheap,” – he said. “We believe that the German economy will soon recover, and the growth of the world economy starts to gain momentum. German growth is an important component of global growth. “

Earlier this month, the German Dax has undergone a technical correction, whereas two months the index fell by 10%. Since then he has regained his position and was trading at 9,242 on Thursday. However, it is still below the record high 10,029 points, which the index reached in early July. Increase Dax annualized still negative, and is -3.2%, whereas last year it added 25%. Meanwhile, the yield on 10-year government bonds of Germany, once considered aktivami- “refuge”, on Thursday fell to record lows.