Dax over 13,000 points: vaccine euphoria and Biden win | Free Press

Much is in store for CEO Degenhart’s successor. Much of the workforce is concerned about the reduction. Management and unions want to get closer.

Frankfurt / Main (dpa) – Success in developing a vaccine against the Covid-19 lung disease caused the Dax to rise dramatically on Monday.

The German stock market barometer not only recovered the 13,000 point mark, but also briefly jumped to almost 13,300 points, the highest level since mid-September.

In the afternoon, the Dax was up 5.78 percent to 13,201.00 points and the MDax gained 2.85 percent to 28,125.37 points. The leading euro zone index, EuroStoxx 50, recently rose 6.4 percent, and Paris, London, Milan and Madrid also continued to rise sharply. The sharp rise in the indexes was also supported by the victory of Democrat Joe Biden in the US presidential election.

Losers from the Corona crisis rose sharply in view of the Corona news, while the winners from the previous crisis fell sharply: in the Dax, for example, the shares of engine maker MTU rose 14 percent, while those of food supplier Delivery Hero fell almost 7 percent. At MDax, Lufthansa, Fraport and also the ticket marketer and event organizer CTS Eventim were the biggest winners with just over 20 percent each. Papers from kitchen box supplier Hellofresh and the pharmacy store have lost 11 percent each.

Rheinmetall gained 6.8 percent and more than made up for Friday’s losses when the defense company and the auto supplier released their quarterly figures.

The euro rose in the early afternoon to trade at $ 1.1887. The European Central Bank last set the benchmark rate on Friday afternoon at $ 1.1870. Last week, the rate of the euro rose about two cents. The current yield in the bond market was unchanged at minus 0.64 percent. The Rex bond index was unchanged at 146.61 points. The Bund futures lost 0.62 percent to 175.03 points.