The leading German index has reached a new record high. The Dax owes its more than 19,500 points to the expectation that interest rates will continue to fall.
The Dax started the week with a record. On Monday, the leading German index rose to 19,518 points for the first time and ultimately closed 0.69 percent higher at 19,508.29 points. His previous record from the end of September was around 19,491 points.
“The hoped-for positive impulses from the reporting season did not take long to arrive,” wrote market analyst Konstantin Oldenburger from broker CMC Markets, with a view to encouraging quarterly figures from US companies. On Wall Street, the Dow Jones Industrial also reached a record high.
The next interest rate cut from the European Central Bank (ECB) is also expected later this week. “The prospect of abundant liquidity through further easing of monetary policy both in the Eurozone as early as Thursday and in the US in mid-November and beyond is keeping invested investors on board, while skeptics are continually being forced onto the bandwagon jump on board,” commented capital market strategist Jürgen Molnar from the Robomarkets trading company.