Dismal data out of Germany Thursday showed that the country's economy - often seen as the powerhouse of Europe - contracted in the second quarter have not put off a growing number of market participants, who see recent dips a perfect opportunity to buy.
Peter Oppenheimer, the chief global equities strategist at Goldman Sachs, is the latest to throw his weight behind the battered bourse. He told CNBC Thursday that current valuations mean it is one of the cheapest major markets around the world.
"It does look quite cheap to us strategically," he said. "We think that the German economy will recover and also we think that the global economy is going to pick up, and Germany is very levered into global growth."
The German Dax tipped into a technical correction earlier this month with the index falling 10 percent within a two-month period. It has since recovered ground to trade at 9,242 points at midday Thursday, but this is still below an all-time high of 10,029 points at the beginning of July. The Dax is still negative for the year with a year-to-date loss of 3.2 percent, compared to last year's rise of 25 percent. Meanwhile, yields on the German 10-year sovereign bond - seen as a safe-haven - hit record lows on Thursday morning.