The leading German index is on a downward trend this year – despite the recent recovery.
(Photo: Bloomberg Creative/Getty Images [M])
Frankfurt, Dusseldorf The German stock market starts the new week with gains: At the close of trading, the Dax was up 0.8 percent at 14,417 points. At its peak, the leading index was even up 2.2 percent at 14,628 points before profit-taking started again. The economically sensitive chemical groups BASF and Covestro were in particularly high demand, with their shares gaining around two percent.
Vague hopes for new talks between Kyiv and Moscow in the Ukraine war supported the Dax. According to the Kremlin, new peace negotiations between the delegations of both countries could begin on Tuesday in Istanbul. According to local media, Ukraine has meanwhile made similar statements.
The stock market also benefited from the significant drop in oil prices. The North Sea variety Brent went down by almost seven percent from a high level. “The sharply falling crude oil prices are taking some pressure off the inflation dynamic,” said Andreas Lipkow, market expert at Comdirect.
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