Stock exchange in Frankfurt: Falling gas price drives Dax to an intermediate high

Thanks in part to a falling gas price, the German stock market continued the strong performance of the previous week on Monday.

Stock exchange in Frankfurt: Falling gas price drives Dax to an intermediate high

Thanks in part to a falling gas price, the German stock market continued the strong performance of the previous week on Monday. At times, the Dax climbed above the 13,000 point mark for the first time since mid-September. Boost came from the continued good mood on Wall Street. In addition, the sharp drop in gas prices allowed suppliers in Germany and across Europe to breathe a sigh of relief.

The leading German index closed 1.58 percent higher at 12,931.45 points and thus expanded the plus of the past week. The MDax recently rose by 1.41 percent to 23,241.83 points.

"Before the reporting season picks up speed in the coming days and the ECB decides on the key interest rate, the general mood on the German stock market is good," commented expert Frederik Altmann from Alpha Securities Trading. The slightly declining yields on the bond market together with lower gas prices had a particularly positive effect in Germany. "In addition, there is a speech by French President Emmanuel Macron, who sees opportunities for peace in Ukraine."

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