Stock exchange in Frankfurt: Lower US inflation drives Dax over 14,000 points

After a fall in the US inflation rate in October, the Dax climbed to its highest level since June at 14,111 points on Thursday afternoon.

Stock exchange in Frankfurt: Lower US inflation drives Dax over 14,000 points

After a fall in the US inflation rate in October, the Dax climbed to its highest level since June at 14,111 points on Thursday afternoon. The leading German index recently gained 2.7 percent to 14,036 points.

The MDax rose by 3 percent to 24,990 points from its highest level since September. The leading eurozone index, the EuroStoxx 50, rose by almost 2.5 percent.

Investors now have legitimate hopes that US inflation has peaked and that the pace of the US Federal Reserve's interest rate turnaround is slowing.

Investors had once again received a bouquet of quarterly reports from the companies. Papers from RWE, Allianz and Continental have long been among the best in the Dax. The insurer Allianz presented business figures the evening before and specified the operating profit target upwards. The supplier RWE confirmed its forecast after good results and Conti convinced with operational improvements in the automotive sector.

The euro climbed to $1.0159 early in the afternoon as US interest rate speculation faded - its highest level since mid-September. The European Central Bank (ECB) set the reference rate at $1.0039 on Wednesday afternoon.

On the bond market, the current yield fell from 2.20 percent on the previous day to 2.15 percent. The Rex pension index rose by 0.11 percent to 126.85 points. The Bund future rose by almost one percent to 139.73 points.

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