Frankfurt / Main (dpa) – The conclusion of a free trade agreement between China and 14 Asia-Pacific states, as well as positive economic data from the Middle Kingdom, once again strengthened investor confidence on Monday.
Fueled further by another success in developing a corona vaccine, the Dax even rose to 13,277 points. This euphoria faded noticeably, with the index ultimately gaining just 0.47 percent to 13,138.61 points.
With the American pharmaceutical company Moderna, another manufacturer has submitted positive data for a corona vaccine. This is 94.5 percent effective, the company said. Moderna’s shares rose on the US Nasdaq stock exchange in some cases in the double-digit percentage range.
The MDax of the 60 median values rose 0.77 percent to 28,732.11 points. The SDax of the 70 smallest stocks in the stock market succeeded in what Dax and MDax had failed to do: it rose a record 13,357.71 points and closed slightly below it with a 1.44 percent lead.
The leading euro zone index, EuroStoxx 50, advanced 0.99 percent to 3,466.21 points. The French Cac 40 and the British FTSE 100 performed even better, while in New York the Dow Jones Industrial gained around one and a half percent at the end of European trading. However, it was not enough for the Dow to break the 30,000 point round mark.
With the news of the vaccine, the European travel industry rebounded, narrowly missing its highest level since early March. Aviation titles were in high demand: Lufthansa earned 7.5% on the MDax and the shares of the airport operator Fraport 6½%. In the Dax, engine maker MTU’s shares were ahead with more than five and a half percent.
On the other hand, the roles of winners from the previous crisis such as cook box mail order company Hellofresh or online fashion retailer Zalando had to give up, with losses of up to 4.57 percent. In the Dax, shares of food delivery company Delivery Hero were weak at minus 2.77 percent. The aforementioned companies have benefited for months from restrictions and closures in the wake of the pandemic. With an effective vaccine, that tailwind could diminish.
Shares of Va-Q-Tec initially soared more than 40 percent, but ended the day minus 2.41 percent. The company produces thermoboxes and containers for the transport of temperature-sensitive goods and is seen as a beneficiary of the successes of the Mainz company Biontech, whose vaccine presents high logistical demands due to cooling. Moderna’s vaccine, on the other hand, must be able to be stored at normal refrigerator temperature, which market participants rated as a burden on Va-Q-Tec’s price development.
After the market closed, the euro was trading at $ 1.1842. The European Central Bank (ECB) set the reference rate in the afternoon at 1.1830 (Friday: 1.1815) US dollars and the dollar thus cost 0.8453 (0.8464) euros.
In the bond market, the current yield fell from minus 0.55 percent on Friday to minus 0.57 percent. The Rex bond index rose 0.12 percent to 146.07 points. The Bund future was little changed at minus 0.01 percent at 174.94 points.