Friendly guidelines from the Far East are having an impact on the German stock market. The Chinese government lowered stamp duty on stock trading for the first time in 15 years. Concerns about interest rates recede somewhat into the background, but are not off the table. At the central bankers’ meeting in Jackson Hole, both Fed Chair Jerome Powell and European Central Bank (ECB) President Christine Lagarde promised to continue pursuing a strict monetary policy in the fight against inflation.
Friendly guidelines from the Far East are having an impact on the German stock market. The Chinese government lowered stamp duty on stock trading for the first time in 15 years. Concerns about interest rates recede somewhat into the background, but are not off the table. At the central bankers’ meeting in Jackson Hole, both Fed Chair Jerome Powell and European Central Bank (ECB) President Christine Lagarde promised to continue pursuing a strict monetary policy in the fight against inflation.
The Dax closes with an increase of 1.03 percent at 15,792.61 points. In the previous week, the leading index had posted a gain of around 0.4 percent. The MDax of medium-sized titles gained 1.07 percent on Monday to 27,287.46 points. The EuroStoxx 50 rose by 1.3 percent. The New York leading index Dow Jones was 0.5 percent higher at the end of European trading.
From an industry perspective, technology stocks were the top favorites among investors, while utilities were the most shunned. Among the individual stocks, market-moving news was rare. Thyssenkrupp Nucera’s shares rose 1.1 percent after the electrochemical equipment maker increased sales and earnings in the third fiscal quarter. The papers of the parent company Thyssenkrupp gained 1.0 percent.
Investors reacted with disappointment to Borussia Dortmund’s draw against VfL Bochum in the Bundesliga. BVB shares lost 1.9 percent.
The euro was last traded at $1.0807. The European Central Bank set the reference rate at $1.0808 in the afternoon. In bond trading, the current yield rose from 2.56 percent on Friday to 2.61 percent. The Rex pension index fell by 0.18 percent to 123.86 points. The Bund future fell by 0.08 percent to 132.05 points.
Source: Stern
