Investors remained largely bullish on Tuesday in hopes of a continuation of the economic recovery. Of Dax rose 0.3 percent to 15,906 bargaining points. The M-Dax, the index for mid-sized stocks, hit an all-time high with over 0.5%. The annual central bank symposium in Jackson Hole, US is approaching and should be closely watched by investors. “The leaders of the American central banks were happy to take advantage of this conference to announce a reversal of their monetary policy”, wrote the economist Cyrus of Rubia of the Hamburg Commercial Bank. Recently, concerns about a less accommodating future US monetary policy had slowed equity markets. US Federal Reserve Chairman Jerome Powell wishes to speak on Friday.
Full vaccine approval by partners Biontech and Pfizer in the United States has put travel industry stocks particularly affected by pandemic restrictions at the top of investor buying lists. The European industry index gained 1.6 percent. In this country, shares of Lufthansa rose by 3%, papers of the travel company Tui rose by 4.7%.
Cash machine and concert organizer CTS Eventim, which was rocked by the corona crisis, began to recover in the second quarter, but is still far from pre-crisis levels. There was still no clear forecast for business development for the full year. Still, the share gained 2.6 percent. After good sales figures, Dermapharm’s paper in S-Dax jumped to a record level of 78.40 euros. Some investors then cashed in and shares of the drug company recently fell 1.2%. The business of the pharmaceutical company continued to be driven by continued high demand for preparations to strengthen the immune system, such as vitamin D products. The group also benefited from the production of corona vaccines for Biontech.
To the American stock exchanges it was also progressing. While the flagship Dow Jones index was slightly in the middle of trading, the technology-heavy Nasdaq Composite Index rose 0.6% to a record high of 15,027 points.