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For casual observers, it must seem strange that the DAX 30, Germany's leading stock index, is down by only 5% since the beginning of the year while the FTSE-100, its UK equivalent, is off by a thumping 23%.

For casual observers, it must seem strange that the DAX 30, Germany's leading stock index, is down by only 5% since the beginning of the year while the FTSE-100, its UK equivalent, is off by a thumping 23%.

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