The German stock market started November with a tailwind. In the wake of a recovery rally on the Asian stock exchanges and the US stock exchanges, which started slightly higher, the Dax rose 1.27 percent to 13,422.26 points on Tuesday afternoon. The MDax gained 2.21 percent to 24,200.81 points, while the leading euro zone index, the EuroStoxx, gained 1.5 percent.
The German stock market started November with a tailwind. In the wake of a recovery rally on the Asian stock exchanges and the US stock exchanges, which started slightly higher, the Dax rose 1.27 percent to 13,422.26 points on Tuesday afternoon. The MDax gained 2.21 percent to 24,200.81 points, while the leading euro zone index, the EuroStoxx, gained 1.5 percent.
Even if the US Federal Reserve is expected to raise interest rates by 0.75 points on Wednesday, the hope that the pace of interest rate hikes will soon slow down is a price driver. The recovery rally in the Far East was mainly driven by tech stocks such as Tencent or Alibaba, and this had a positive effect on German Internet stocks, which have been avoided recently. In the Dax, Zalando titles were in greatest demand with a plus of 5.8 percent. In the MDax, the shares of Delivery Hero and Hellofresh rose particularly strongly by 10.3 and 9.4 percent.
The euro exchange rate rose against the dollar. Most recently, $0.9940 was paid. The European Central Bank had set the reference rate at $0.9914 the day before. On the bond market, the current yield fell to 2.01 percent from 2.10 percent the previous day. The Rex pension index rose by 0.57 percent to 128.31 points. The Bund future gained 0.64 percent to 139.39 points.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
