financial correspondent our friends at stock exchange and michael hughes chief market analyst at c.m.c. markets and joins us from the city of london let s start with you ali in frankfurt what does it look like where you are german investors must be celebrating. those that have shares that have equities but the majority doesn t study by the door charts an institute an advocacy group for the companies that issue shares says that only nine million people in germany own shares directly or indirectly that s a percentage of about fourteen percent and when you look at the blue chips here and the dax the majority of them don t have a german majority but a foreign ownership majority that s not got in itself of course people people are free to buy whatever shares they want and german companies welcome the money but the germans are not participating and i think the reason is since two thousand and one the internet bubble burst and a blue chip telecom was also among started and lots of people lost
a foreign ownership majority that s not bad in itself of course people people are free to buy whatever shares they want and german companies welcome the money but the germans are not participating and i think the reason as since two thousand and one the internet bubble burst and a blue chip telecom was also among stott and lots of people lost lots of money that comes freshly into the market and those people have stayed away since then since they ve lost money and i think the whole experience of that has also prevented new people from joining in here to their detriment because the share prices have risen since then michael if you look at it globally is a truly backed by real world economic facts. well i think that s the question a lot of people for asking i think in the past when we ve had stock market rallies we ve generally sane sell off in beaumont case there tends to be