Frankfurt / Main (dpa) - The Dax shook off its initial losses on Monday and headed towards the 13,000 point mark. As so often in the recent past, investors used small resets to get started.
In the afternoon, the leading German index gained 0.36 percent to 12,893.90 points. By the middle of February, record highs had been missed by just over seven percent.
With growth of up to around 18 percent in the past ten trading days alone, the Dax had already made up most of the four-week Corona crash by mid-March. This was driven by economic stimulus from central banks and governments as well as easing in the corona crisis.
Investment strategist Michael Winkler from St.Galler Kantonalbank Germany wrote that exceeding the 200-day lines in many stock indices shows that the markets are likely to have overcome the crash and the risk of a second slump has been averted. The associated hope for an early recovery in the global economy would, however, lead to a significant overvaluation.
In contrast to the Dax, the MDax fell 0.48 percent on Monday afternoon to 27,069.37 points. The Eurozone leading index EuroStoxx 50 increased by 0.1 percent.
Lufthansa papers continued their recovery rally with an increase of more than eight percent. The aviation sector, which was particularly punished in the wake of the Corona crisis, remains in demand during the easing phase, as further price gains at MTU and Airbus show.
In the strong banking environment, the Pfandbriefbank's papers also expanded their recent profits. They won 13 percent as the top score in the MDax. Deutsche Bank advanced by a good four percent in the Dax.
Wirecard again caught the eye. The payment processor does not come to rest. After searches of the business premises by the public prosecutor's office before the weekend, the papers initially slipped by more than seven percent, but then reduced the minus significantly to just over one percent in the end. According to the public prosecutor's office, the group's board of directors is under investigation. It is about the suspicion of market manipulation.
UBS gave a thumbs up for the shares of the laboratory outfitter Sartorius and is now advising to sell it. At the MDax end, stocks lost more than ten percent.
The euro cost $ 1.1293 in the afternoon. The European Central Bank (ECB) last set the reference rate at $ 1.1330 on Friday afternoon.
The current yield on the bond market rose from minus 0.30 percent on Friday to minus 0.28 percent. The Rex index rose by 0.19 percent to 143.80 points. The Bund future gained 0.05 percent to 173.30 points.
