A series of positive news sent the Dax to record highs on Tuesday after an initially rather sluggish trend. The leading German index ended trading with an increase of 0.76 percent to 17,033.24 points. The MDax advanced by 0.91 percent to 25,820.64 points and things also went up across Europe.
Announcements of support for the Chinese stock market from the local government helped, as did gains on Wall Street after strong quarterly reports. There was also encouraging economic data from Germany. Incoming orders for industry rose surprisingly, while analysts had expected a slight decline.
The experts from “Index-Radar” said that important positive news had come “from China for a change.” With a series of announcements aimed at supporting the domestic stock market, the market is hoping for an end to the slide in Chinese stocks and real estate, they wrote.
Market expert Andreas Lipkow pointed to further strong quarterly figures from large US companies such as Eli Lilly for the DAX's record run. UBS equity strategist Matthew Carter created a good mood with a recent study on medium-sized European stocks. He advises investors to bet on a “Goldilocks scenario”, i.e. on an improving economy with falling interest rates at the same time, and points to the still attractive valuations of many stocks.
Among the individual stocks, Qiagen took the top spot on the DAX with a gain of 4.9 percent. Infineon lost 3.0 percent at the end of the index. Takeover rumors drove up the shares of the diagnostic specialist and laboratory service provider.