FRANKFURT / LONDON (IT BOLTWISE) – The DAX exceeded the 24,000 point mark on Monday, driven by positive developments in the Asian markets and the USA. The X-DAX showed an increase of 0.8 percent, indicating a recovery after the weak finish of the previous week. The markets are benefiting from signs of easing in the trade dispute between the USA and China and from stable price gains in Asia.
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The German stock market is in strong shape at the beginning of the week. The DAX, which closed below the psychologically important mark of 24,000 points on Friday, was able to exceed it again on Monday morning. The X-DAX, an indicator for the leading German index, signaled an increase of 0.8 percent to 24,031 points. The Eurozone leading index EuroStoxx 50 is also expected to rise by 0.6 percent.
The positive mood is supported by developments on the international markets. In the USA, the stock markets rose on Friday, which can be attributed to signs of easing in the trade dispute between the USA and China. In addition, there were no negative influences from US regional banks, which gave the markets an additional boost. The markets in Asia also showed significant price gains on Monday morning, which can be attributed to an emerging coalition in Japan and less weak economic growth in China.
Another focus is on the IPO of Thyssenkrupp Marine Systems (TKMS), which takes place on Monday. This is not a classic IPO, but rather a spin-off. For 20 Thyssenkrupp shares, investors automatically receive one TKMS share, with Thyssenkrupp retaining 51 percent of the shares. This development could affect Thyssenkrupp’s share price.
Other companies are also in focus: A report about closer cooperation between United Internet and Telefonica as well as a possible takeover of United’s subsidiary 1&1 caused United Internet’s shares to rise by 4.6 percent premarket. Armaments stocks such as Rheinmetall are on the road to recovery after a weak previous week, while shares in airport operator Fraport suffered from a downgrade by Morgan Stanley. A buy recommendation from Jefferies, however, drove up the shares of wafer manufacturer Siltronic by 6.9 percent.
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