A series of positive news took the Dax to all-time highs on Tuesday after an initially rather slow trend. The main German index closed its doors with an increase of 0.76 percent, up to 17,033.24 points. The MDax advanced 0.91 percent to 25,820.64 points and things also rose across Europe.
End of the crisis for China?
Announcements of support for the Chinese stock market from the local government helped, as did gains on Wall Street following strong quarterly reports. There was also encouraging economic data from Germany. Incoming orders for the industry rose surprisingly, while analysts expected a slight drop.
“Index-Radar” experts say that important positive news has come “from China, for a change.” With a series of announcements aimed at supporting the domestic stock market, the market expects an end to the decline in Chinese stocks and real estate, they wrote.
American corporations are successful
Market expert Andreas Lipkow highlighted other strong quarterly figures from large American companies such as Eli Lilly for the DAX's record streak, which look positively to the future thanks to new weight loss products. UBS equity strategist Matthew Carter created good cheer with a recent study of mid-sized European stocks. He advises investors to bet on a “Goldilocks scenario”, that is, an improvement in the economy and at the same time a fall in interest rates, and points to the still attractive valuations of many stocks.
Among individual stocks, Qiagen took first place on the DAX with a gain of 4.9 percent. Infineon lost 3.0 percent at the bottom of the index. Acquisition rumors sent shares of the diagnostic specialist and laboratory services provider higher.
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