indices in this article
FRANKFURT (dpa-AFX) – Joe Biden’s victory in the US presidential election gave the Dax (DAX 30) recovery rally a new boost on Monday. After the setback on Friday, the leading index rose 1.63 percent to 12,683.08 points. The MDAX of the 60 medium-sized stocks gained 1.54 percent to 27,766.69 points. The leading Eurozone index EuroStoxx 50 (EURO STOXX 50) advanced by 1.49 percent to 3,251.71 points.
The week before, the German stock market barometer had risen sharply by eight percent and, despite all the uncertainties during the US election, almost completely recovered from its recent corona-related losses.
With the victory of the Democrat Biden, the uncertainty will disappear, explained market strategist Stephen Innes of the broker Axi. The fluctuations should now subside noticeably. Together with the support measures taken by the central banks to cushion the negative economic consequences of the corona pandemic, the stock market rally could therefore continue after the election.
Portfolio manager Thomas Altmann from asset manager QC Partners commented: “Apparently, investors trust the duo Biden / Harris to transform the divided states of America back into United States.” The fact that Biden and the future Vice President Kamala Harris wanted to intensify the fight against the Covid 19 pandemic from day one in office should also be well received. This is important, “the ever faster spread of the pandemic is becoming an ever greater threat to the economy” ./ ck / mis