The German stock market rose significantly on Monday. In the course of trading, the Dax gave back part of its gains. With an increase of 1.70 percent to 12,649.03 points, however, it still showed itself to have recovered noticeably. The MDax of medium-sized German companies advanced by 2.91 percent to 22,983.03 points and things also went up Europe-wide.

Support for the German market and the major European exchanges once again came from the US, where the indices set the tone with sharp gains in the afternoon.

With a price increase of 1.6 percent, the focus was on Lufthansa shares. They drew attention, particularly in the afternoon, after the airline raised its full-year targets for earnings and free cash flows, which are of interest to shareholders.

Downward trend at Drägerwerk

At the end of the SDax, however, Drägerwerk shares fell by 4.8 percent. After a weak quarter, the medical and safety technology manufacturer can no longer meet its annual targets due to ongoing supply chain problems and high material procurement costs.

At the financial services provider Hypoport, the fall in demand for real estate as a result of higher interest rates and economic risks led to a drop in business. The transaction volume on Hypoport's Europace credit platform fell significantly in the third quarter. The company only received the annual targets in September. The share certificates, which had fallen further at times, recovered and ultimately increased by 1.8 percent. In the year to date, however, they have still lost around 83 percent.

Thanks to an upbeat comment from JPMorgan, shares in antibody specialist Morphosys rallied, at times climbing to their highest levels since mid-August. They ended the day with a plus of 6.7 percent. Analyst James Gordon expects strong price gains in the course of the presentation of study data on the drug candidate Gantenerumab, which partner Roche will announce soon.

Dow Jones adds

The Eurozone leading index EuroStoxx 50 went up 1.77 percent to 3441.64 points on Monday. Significant gains were also posted in Paris and London. In the US, the Dow Jones Industrial rose by around two percent at the close in Europe. The technology-heavy Nasdaq indices increased even more significantly by around three and a half percent.

The euro exchange rate rose noticeably. The shared currency was trading at $0.9843 early in the evening. The European Central Bank set the reference rate at 0.9739 (Friday: 0.9717) dollars. The dollar thus cost 1.0268 (1.0291) euros.

On the bond market, the current yield rose from 2.11 percent on Friday to 2.15 percent. The Rex pension index increased by 0.10 percent to 127.12 points. The Bund future gained 0.59 percent to 137.00 points.