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Dax dares to make a new attempt above 16,000 points

2023-05-29T09:13:12.102Z

Highlights: The Dax rose above the 16,000 point mark at the start of the session and recently gained 0.36 percent to 16,041.13 points. On Friday, the German benchmark index had gained 1.2 percent in the wake of the strong US stock markets, reducing its weekly loss to 1.8 percent. The mood of the few investors is dampened by weaker economic data from China. Due to the holidays in some European countries as well as in the USA, trade is running very calmly.


The apparently settled dispute over an increase in the debt ceiling in the USA gave the German stock market a moderate boost on Whit Monday. A US default was thus probably avoided at the last minute. However, the mood of the few investors is dampened by weaker economic data from China. Due to the holidays in some European countries as well as in the USA, trade is running very calmly.


The apparently settled dispute over an increase in the debt ceiling in the USA gave the German stock market a moderate boost on Whit Monday. A US default was thus probably avoided at the last minute. However, the mood of the few investors is dampened by weaker economic data from China. Due to the holidays in some European countries as well as in the USA, trade is running very calmly.

Frankfurt/Main - The Dax rose above the 16,000 point mark at the start of the session and recently gained 0.36 percent to 16,041.13 points. On Friday, the German benchmark index had gained 1.2 percent in the wake of the strong US stock markets, reducing its weekly loss to 1.8 percent. The MDax of medium-sized companies rose by 0.35 percent to 27,085.78 points on Monday. The EuroStoxx 50 rose by around 0.3 percent.

US President Joe Biden and Kevin McCarthy, the Republican leader in the House of Representatives, said on Saturday that they had reached a preliminary agreement to increase the debt ceiling for solvency by 2025. The project still has to be approved by Congress. According to the U.S. Treasury Department, without an increase, there would have been a threat of a default at the beginning of June, which would probably have far-reaching consequences for the global economy.

Profits of industrial companies in China fell by more than 20 percent in the first four months of the year, underscoring the cooling of demand in the world's second-largest economy.

From a company's point of view, new news is few and far between due to the holidays. Investors are primarily focused on the shares of Borussia Dortmund after the unexpectedly defeaten German championship of the Bundesliga football club. The missed title not only plunged the fans into deep mourning, but also caused disillusionment among the club's investors: BVB shares collapsed by more than 30 percent to their lowest level in more than a month. In the previous week, investors had already pre-celebrated in the hope of the championship and pushed the stock up by 32 percent to its highest level since autumn 2021 within five trading days.

Talanx shares rose by 1.9 per cent. The insurance group is taking over the Latin American business of US insurer Liberty Mutual Insurance for the equivalent of around 1.38 billion euros. According to the report, the acquisition covers Liberty's retail banking business in Brazil, Chile, Colombia and Ecuador and has a gross premium volume equivalent to around EUR 1.7 billion. The transaction is expected to close in the first half of 2024. Dpa

Source: merkur

All news articles on 2023-05-29

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