In the hope of a strong economic recovery from the consequences of the coronavirus pandemic, more investors are stocking up on German stocks. The Dax jumped the hurdle of 15,000 points for the first time on Tuesday.
IIn the hope of a more powerful recovery of the economy from the consequences of the coronavirus pandemic, more investors are stocking up on German stocks. The standard value index Dax crossed the hurdle of 15,000 points for the first time on Tuesday and rose by 1.4 percent to a record high of 15,021.13 points.
Investors were particularly encouraged by the rapid mass vaccinations in the United States and the trillion dollar economic stimulus programs of the new American President Joe Biden, said stockbrokers. The stock exchanges received additional tailwind from the promises of the major central banks to keep interest rates low for the time being, even with rising inflation.
The mood of American consumers, on the other hand, brightened in March. The consumer mood barometer climbed to 109.7 points from a revised 90.4 points in February, according to the Institute Conference Boardannounced on Tuesday, citing his poll. This is the highest level since the outbreak of the pandemic.
Economists surveyed previously had only expected an increase to 96.9 points. Consumers see their current situation as more favorable and the prospects are far more optimistic than they were before. However, the level of consumer sentiment is still not nearly the same as it was before the crisis broke out: In February 2020, the barometer was at 132.6 points.
At the same time, there were also more pleasing than expected economic figures from Europe. The barometer “Economic Sentiment Index” – ESI for short – ascertained in March by 7.6 points to 101.0 points, according to the data published by the EU Commission on Tuesday. Experts had expected an increase to 96 points on average.
Optimism increased across the board in the individual economic sectors – from service providers and retail to construction and industry. Consumer sentiment also brightened. For the first time since the outbreak of the corona pandemic, the barometer is again above the long-term average, with the significantly increased optimism in Germany becoming particularly noticeable.
This was recently also shown in the business climate index of the Munich Ifo Institute, which rose to its highest level since June 2019. According to a recent survey by the IHS Markit institute, the economy in the monetary union returned to growth in March. In the last quarter of 2020, gross domestic product (GDP) had shrunk by 0.7 percent.