Wednesday December 16, 2020
The rally starts
Dax finally catches up with crash losses
The starting shot for the year-end rally has been fired: With more than 13,500 points, the mid-February record is getting closer for the first time. The German share index is making up for its losses since the stock market crash began. The annual high is within reach.
Strong specifications from Wall Street and good sentiment data from the French and German economies have pushed the Dax to a high since February in the middle of the week. With over 13,500 points, the leading German index finally made up its losses since the stock market crash on February 24th. Most recently he won 1.37 percent to 13,545 points. This brings the record of 13,795 points from mid-February closer. The MDax of the 60 medium-sized values climbed above the round mark of 30,000 points for the first time in its history and recently recorded a plus of 0.80 percent, slightly below it to 29,983.06 points.
The leading Eurozone index EuroStoxx 50 gained almost one percent. The starting shot for the year-end rally has been given, commented Jochen Stanzl, analyst at CMC Markets. The talks about the economic stimulus package in the USA would start rolling. And the US Federal Reserve could ease its monetary policy even further today – to the delight of the stock markets. Following Continental's new medium-term goals for growth and profitability, the shares of the automotive supplier conquered the top of the Dax with a plus of 3.5 percent.
At the end of the Dax, Deutsche Börse stocks lost 0.3 percent. Traders pointed to the possibility of a multi-billion dollar takeover, which is somewhat inhibiting the course. ProSiebenSat.1 expects a continued recovery from the Corona crisis in view of an upturn in the advertising business. November went "very well" in terms of advertising revenue, significantly better than last year, said CEO Rainer Beaujean of the "Süddeutsche Zeitung". The papers won 2.3 percent among the MDax favorites.
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