The Dax recovered strongly from its recent setback on Monday. The leading German index rose by 1.47 percent to 15,433.94 points by midday, making up for a large part of the losses it suffered on Friday.
The Dax recovered strongly from its recent setback on Monday. The leading German index rose by 1.47 percent to 15,433.94 points by midday, making up for a large part of the losses it suffered on Friday.
The MDax for medium-sized stocks gained 0.98 percent to 28,702.51 points. The leading eurozone index, the EuroStoxx 50, rose by 1.8 percent.
On Friday, the Dax slipped out of its two-week sideways movement after failing several times at the 15,500 point mark. On a weekly basis, he lost 1.7 percent.
At the top of the Dax, Commerzbank shares rose by more than four percent. The financial institution has returned to the Dax after around four and a half years. All things being equal, this should have a beneficial effect on liquidity, wrote analyst Timo Dums from DZ Bank. The resumption was made possible by the departure of the gas manufacturer Linde from the Frankfurt Stock Exchange and thus also from the most important German index. In the friendly environment, Deutsche Bank’s paper rose by three percent.
Adidas shares went up by three percent. They benefited from hopes of lessening strains from the end of their partnership with controversial rapper Kanye West. A retailer pointed to press reports that Adidas and the rapper had reached a new agreement to sell their remaining inventory of athletic shoes worth half a billion dollars.
At the top of the SDax small-cap index, shares in Zeal Network rose by nine percent. The lottery broker wants to pay out a special dividend to its shareholders.
Source: Stern
