The joy of the ongoing glut of money in the eurozone drew investors into European stock markets over the weekend. the Dax closed with 15,669 one percent more points. “The ECB has made it clear that it does not plan to tighten monetary policy even after its review and change in strategy,” said portfolio manager Thomas Altmann of QC Partners. This breathes new courage into investors. Markets were also supported by strong corporate balance sheets and positive economic data. In July, for example, the euro area economy recorded the fastest growth rate in 21 years. The purchasing managers index, which summarizes the industry and service providers, rose to 60.6 points from 59.5 points in June. Among Dax’s favorites were shares of automotive supplier Continental with a premium of 3.1%. According to brokers, an increase in sales and profits for French automotive supplier Valeo has created a good mood in the industry. Valeo shares jumped 6.1% in Paris. Supported by a buy recommendation from the investment bank Kepler Cheuvreux, the Daimler share rose 5.5% to the top of the Dax. Vonovia papers, which lost 2.7% of their value, and Deutsche Wohnen with a slight increase of 0.4%, were on the losing side. The takeover of Deutsche Wohnen by Vonovia is once again on the verge of failure.
In M-Dax, the store’s pharmacy created a topic of conversation with its forecast drop. Importantly, the outlook for capped earnings is surprising and would raise questions, writes one expert. Shares of the online pharmacy have at times fallen as much as 13%. More recently, they were even up 0.9 percent.
Based on the price gains of technology stocks, the US stock exchanges win. the Dow jones increased by 0.7%. The larger S&P 500 and the highly technical Nasdaq Composite set new records. Investors were encouraged by financial figures from Twitter and Snap. The short message service has dramatically increased advertising revenue and sales. The stock gained three percent. Snap’s titles rose nearly 24%. The Snapchat operator had also increased its sales more than expected.