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The DAX started trading with a plus and closed Monday pleasantly 1.32 percent higher at 12,799.97 points. In the afternoon, positive guidelines from the United States continued to support the buying mood.
The leading German index thus got in touch with the previous high after the coronavirus outbreak, which it had marked at 12,913 points in early June.
Internationally, investors are currently more optimistic about the start of the reporting season. Initial key data, such as those published by BASF in recent days, are currently fueling the hope that the corona crisis in the second quarter might not have had as strong an impact on results as experts initially feared.
The stock exchanges thus ignore the worsening virus situation in the USA – according to analyst David Madden from CMC Markets, also because of new glimmers of hope for medical antidotes. On Friday, the manufacturer Gilead said that the drug Remdesivir could significantly reduce the risk of death from the lung disease COVID-19. Optimism for a vaccine is currently increasing, too.
Editorial office finanzen.net with material from dpa-AFX
Image sources: Julian Mezger for Finanz Verlag