The Dax is flying high.
The Dax continues to soar: hopes of overcoming the corona pandemic and hopes of economic aid in America are spurring the leading index. The shareholders are also pleased that Joe Biden now has less resistance to fear.
D.he leading German index Dax breaks the 14,000 point mark for the first time in its history. The index rose 0.8 percent on Thursday to a record high of 14,000.03 points. In the hope of an economic upswing and containment of the corona pandemic, investors stocked up on stocks.
The prospect of a victory for the Democrats in the race for the Senate seats for the state of Georgia and the associated expectation of further help for the battered economy in the corona pandemic continues to act as a driver of share purchases on the stock exchanges. Because with a victory in the Senate race, the Democrats around future President Joe Biden could first have significantly more leeway in governing. This is seen much more positively in Germany than in America.
In the first days of January 2021, the German benchmark index, including the increase, rose by a good two percent today. On December 30, the last trading day of 2020, the Dax closed at 13,718.78 points. The corona crisis caused the German benchmark index to drop to 8255 points in March, a decrease of 40 percent. Enormous cash injections from central banks and governments for the economy suffering from lockdowns brought about the turning point. With the end of most of the Corona restrictions in summer, the economy picked up again in many places. The recovery in China, the country where the coronavirus first appeared, helped in particular.
On Thursday, the M-Dax and S-Dax, the indices for medium-sized and smaller companies, also climbed to highs. Joe Biden’s announcement of additional government spending gave a boost. In addition, strong incoming orders for the German industry in November as well as yesterday’s approval of a second corona vaccine in the European Union helped.