With a high for almost two months, the Dax made a strong start to November on Monday.
With a high for almost two months, the Dax made a strong start to November on Monday.
In the first hour of trading, the German benchmark index rose 0.75 percent to 15,806.01 points. The Dax had already closed October with a profit of around three and a half percent. The record high of 16,030 points is now approaching again.
The MDax of the medium-sized stock market stocks gained 0.88 percent on Monday morning to 35,156.57 points. The Eurozone leading index EuroStoxx 50 also recorded a plus of 0.8 percent.
On Friday, disappointing quarterly reports from Amazon and Apple quickly found buyers in the Dax at 15,500 points after the setback. Another record in the US technology selection index Nasdaq 100 had then underscored the serenity of investors. The market-wide S&P 500 had also climbed to a new high.
Apple and Amazon could not have done much harm to the stock market, also because the two heavyweights with their disappointing figures are in the minority in the overall convincing reporting season, explained analyst Jochen Stanzl from CMC Markets.
On Monday morning, after the election surprise in Japan, the Nikkei 225 continued there with significant growth. Japan’s ruling Liberal Democrats party remains in power despite a setback.
The sealed end of tariffs on steel and aluminum between the USA and the European Union is also having a positive effect in this country. “Customs duties have never been and are never well received on the stock exchanges. Every abolition therefore lifts the mood here, ”wrote market expert Thomas Altmann from asset manager QC Partners. Steel stocks such as Salzgitter, Klöckner & Co and Thyssenkrupp increased by two to four percent.
With plus two and a half percent, the shares of MTU built on their strong price gains on Friday. HSBC now recommends buying the engine manufacturer’s shares. “The recovery story deserves more attention,” wrote analyst Richard Schramm. MTU’s Capital Markets Day, due in mid-November, should show the good outlook for the current year.
Source From: 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.
