Later, a firmer opening on new york wall street provided additional positive impetus.
The dax rose on monday afternoon to its highest level since january 2018, closing up 0.94 percent at 13.407.66 points. The mdax, an indicator for the shares of medium-sized german companies, reached a record high of 28 percent.307 points and ended 1.73 percent higher at 28.254.40 payers.
The euro zone’s leading index, the eurostoxx 50, rose by 1.1 percent to 3772 points. The cac-40 in paris rose by 1.2 percent, and london’s ftse 100 recorded a gain of 2.3 percent. In the U.S.A., the dow jones industrial wall street index closed 0.6 percent higher than at the close of trading on friday.
On the corporate side, utility stocks RWE and eon were in good form, gaining 1.2 and 1.8 percent respectively. Borsianer referred to the latest decisions on the federal government’s climate package. For example, additional revenue from a planned higher CO2 price to reduce the EEG surcharge to demand eco-electricity, from which the corporations could profit. In addition, according to a press report, the city of dortmund is considering the purchase of further RWE shares.
Lufthansa shares increase in price by 1.7 percent. The airline launches a new shareholding structure to attract more major foreign investors. After the board of management twice cut its profit targets, the paper is one of the biggest losers on the dax for the year as a whole.
Internet portal operator scout24 nears billion-euro sale of its autoscout24 car sales platform. The company confirmed a report on advanced negotiations with several bidders, including the financial investor hellman& friedman. The one from hellman& friedman, however, offered a price that was "considerably" higher than the 2.5 billion euros mentioned in the reports. Scout24 shares accelerated their high flight and rose to a record high. In the end, they gained 5.5 percent.
The real estate industry is once again on the merry-go-round. So now the housing group ado properties wants to swallow its coarse shareholder adler real estate. Adler securities initially rose in price by more than 10 percent, with a final gain of 6.5 percent remaining. On the other hand, the ado shares took a beating: as the bottom performer in the sdax small cap index, they lost 8.4 percent.
The shares of special machinery manufacturer isra vision were also among the biggest sdax losers, down 5.1 percent. Here the investors do not forgive especially the disappointing final quarter. It didn’t help that the management board expects a revival in orders at the beginning of 2020 following the most recent lowered sales forecast.
The euro was last quoted at 1.1142 U.S. Dollars. The european central bank (ECB) had set the reference rate at 1.1146 dollars this afternoon.
In the bond market, the yield on circulation fell from minus 0.26 percent on friday to minus 0.31 percent. The rex pension index rose by 0.22 percent to 144.26 points. The bund future fell by 0.20 percent to 171.94 points.