There was a whole series of news on the stock market today that played into the hands of the bulls – and fueled hope of an early end to the Corona crisis. The Dax took a good sip from the bottle.
At the end of a weekly start made to measure, INDEXDB DAX closed 5.7 percent higher at 11,058 points. The index continued its recovery from Friday.
Investors are returning to the market hoping to overcome the corona crisis. “In Europe, the restrictions continue to relax while the number of new infections remains stable,” said market analyst Milan Cutkovic from brokerage firm AxiTrader.
These easing, including the planned opening of the borders in Europe for travel, but also the announcement by Fed boss Jerome Powell that if necessary further measures to counter the rifle crisis were on the feet of investors’ imaginations. Powell said in an interview on Sunday . If there is no second wave of pandemics, he expects the economy to recover in the second half of the year.
Other experts are also rather cautious despite the price gains. According to analyst Christian Schmidt from Helaba, “in the coming weeks it can be assumed that the fight between the bulls and bears will continue”. The development of the gold price also shows that investors still need security. The precious metal was more expensive than it had been in years at $ 1,760 per ounce , but was unable to hold profits in the general stock euphoria. The German central bank also spoke today.
Bundesbank dampens the recovery fantasy
The Bundesbank expects the German economy to pick up in the spring. The extent and speed remained uncertain, according to the latest monthly report.
“There is a great deal of uncertainty about further economic development,” warned the Bundesbank. “This depends, among other things, on the further course of global infection and containment measures, but also on changes in consumer and investment behavior that are influenced by it.” Gross domestic product collapsed 2.2 percent in the first quarter – the largest decline since the 2008/2009 financial crisis and the second largest since German unification.
All 30 DAX INDEX shares up
But there was no question of pondering today. There was no loser on the course slip in the Dax. Cyclical auto stocks were particularly sought after, but day winners MTU Aero, Deutsche Bank and the recently heavily beaten Wirecard share also rose sharply. Defensive stocks like Vonovia or Telekom also won, but only below average.
