Forecasters pessimistic even as DAX leads Europe stocks

London

STRATEGISTS aren't buying the optimism on German stocks.

While the DAX Index is up for a second month and came within four points of erasing its 2016 drop this week, professional forecasters cut their year-end targets on the gauge for an eighth time. They're now projecting the DAX will slide 7 per cent this year, going by the average of 12 estimates compiled by Bloomberg. It slipped 0.6 percent at 9.25am in Frankfurt.