Markets

Dax again marks a record high at the end of the year

D.he stock markets will initially remain on a rally course after the Christmas holidays. The German standard value index Dax, which the day before with a closing level of 13,790 points exceeded its old high from February by a wafer, increased again on Tuesday and is currently 0.5 percent higher with 13,850 points. The small cap indices M-Dax and S-Dax are also trading with premiums of around 0.9 percent to all-time highs of 30,945 and 14,793 points.

This means that the markets will continue to receive many advance praise for the year 2021. In Japan, the Nikkei index gained 2.7 percent during the night to 27,568.15 points, its highest level in more than 30 years. On the other hand, the price development on the Chinese stock exchanges was inconsistent: While the prices on the stock exchanges in the People’s Republic fell, things were clearly up in Hong Kong. The CSI 300 index fell 0.4 percent to 5043 points, the Hang Seng index rose 1 percent to 26,568 points.

The hope of a fresh tailwind for the American economy after the adoption of a new stimulus package had already caused new highs on Wall Street the previous evening. The S&P 500 index gained 0.9 percent to 3735 points, the historically relevant Dow Jones Industrial Index 0.7 percent to 30,403 points. The technology stocks index Nasdaq-100 advanced 1 percent to 12,839 points.

The outgoing President Donald Trump had given up his blockade of the $ 900 billion aid package to cushion the consequences of the corona and signed the corresponding law. “We can finally breathe a sigh of relief and say that the chaos surrounding this law is over,” said Hussein Sayed, chief investment strategist at brokerage firm FXTM.

The current price movements should not be overinterpreted because of the overall low trading volume, warned Johan Javeus, chief investment strategist at Bank SEB. Unlike in previous years, investors had not seriously expected a long-term blockade and a temporary closure of federal authorities – the “government shutdown”.

The highs of the Dax indices also hide the actual development of the German stock market. Since the Dax indices, in contrast to all other common stock market indices, include a reinvestment of dividends internationally, they overshoot the price increase. The market-wide F.A.Z.-index, which contains 100 values ​​and does not follow this fiction, is also 0.7 percent up on Tuesday at 2457 points, but is well below its high of January 2018 at 2695.73 points.

In addition to the aid package, according to stockbrokers, the mass vaccinations against the corona virus that had started were a mood-enhancer. The hope of a normalization of public life gave a boost to leisure and tourism values ​​in particular, which are being hit particularly hard by the current pandemic restrictions. The share prices of the airlines American Airlines, Delta and United and the cruise operators Carnival and Royal Caribbean rose by up to 4.2 percent.

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