Dusseldorf Hopes for smaller rate hikes in the US are driving the German stock market on Monday. In the first few minutes of trading, the Dax rose to 12,930 points and gained momentum as trading progressed. In the early afternoon, the leading German index was up 1.7 percent at 12,951 points. This is the highest value since mid-September. The 13,000 mark is getting closer.
The Wall Street Journal reported on Friday evening that some Federal Reserve officials wanted to downshift interest rates. In addition, the international financial markets are relieved that Boris Johnson will not run for the post of British Prime Minister after all.
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