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Countdown to the US election: Dax accelerates recovery

D.he hope for a clear result in the American presidential election this Tuesday drove the Dax up around noon. The leading German index rose by 1.90 percent to 12,012.17 points. This has not yet succeeded in completely closing the gap created by the price slide last Wednesday. Since the low of 11,450 points last Friday, the index has now risen by almost five percent.

The M-Dax of the 60 medium-sized stock market stocks advanced on Tuesday by 1.48 percent to 26,464.50 points. The mood on the stock exchanges across Europe was also characterized by hope and optimism. The Euro Stoxx 50, the leading index for the Eurozone, gained two percent just as strongly as the Dax.

Bayer suffered a billion-dollar loss in the third quarter due to a difficult agricultural business and even missed the recently lower expectations of analysts. With minus 0.9 percent, Bayer were the only loser in the Dax. At the top of the Dax were the titles of the engine manufacturer MTU with plus 3.8 percent.

In the M-Dax, the shares of the fashion group Hugo Boss rose by 3.2 percent according to figures. The papers of Hellofresh, one of the corona crisis winners, lost more than four percent at the end of the index after an initially positive start. Hellofresh had confirmed the increased annual targets in October. JP Morgan analyst Marcus Diebel is optimistic about the final quarter but skeptical about 2021.

After heavy price losses last week, the quarterly figures from Klöckner & Co now ensured a recovery. The shares of the Duisburg steel trader gained more than eight percent at the top of the S-Dax.

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