Of the DAX started Tuesday’s trading higher and then continued to climb higher, also breaching 12,600 points. It ended trading 3.78 percent stronger at 12,670.48 points. Of the TecDAX also noted firmer at the start. After that he stayed on green territory. His closing position: 2,831.48 digits (+4.2 percent).
Strong targets from the USA also drove the German market on Tuesday after the stock exchange barometer closed above 12,200 points the day before. “It is no longer just bargain hunters looking for undervalued shares who appear as buyers,” said portfolio manager Thomas Altmann from asset manager QC Partners to the German Press Agency. “Those who speculated that prices would continue to fall are now being caught flat-footed. To cut their losses, they must now buy into the rising market.”
In terms of economic data, the VDMA incoming orders in Germany were pending: In August, the companies in the industry filled their order books at the same level as in the same month last year. Although 6 percent fewer orders came from Germany in real terms, foreign orders increased by 2 percent.
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Of the EURO STOXX 50 firmed at the start of the bell and then maintained its positive trend. It ended the day up 4.26 percent at 3,484.48 points.
Stimuli came today from numerous economic data. In Europe, for example, producer prices were on the agenda. In August, these rose by 43.3 percent, more than at any time since the introduction of the euro. According to the Dow Jones Newswires, market observers fear that the data “show a renewed acceleration in inflation” and do not suggest that inflation has already peaked.
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Of the Dow Jones started trading up 1.14 percent at 29,826.67 points and remains in the black. The tech-heavy one NASDAQ Composite meanwhile, was 2.12 percent higher at 11,054.72 points at the start of the stock market and then continued to show its friendly side.
After the weak stock market month of September, a countermovement appears to be taking place in October. In addition, investors are increasingly hoping that the central banks will now be more moderate again after the increase in interest rates. As Deutsche Bank’s Jim Reid comments: “[…] The most important factor is the growing speculation that central banks may soon turn to a more dovish stance, especially after the market turmoil of the past few weeks,” Dow Jones Newswires quoted him as saying.
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The leading Japanese index Nikkei ultimately gained 2.96 percent to 26,992.21 points.
Meanwhile, there was no action on the Chinese mainland, where the Shanghai Composite on Friday was 0.55 percent weaker at 3,024.39 points at the weekend. There will be no trading in Shanghai up to and including Friday due to the “Golden Week”. The market in Hong Kong was weaker and lost here hang seng on Monday 0.83 percent to 17,079.51 points. Today, however, trade was at a standstill there as well.
Falling market interest rates fueled trade. sinking returns in the bond market were a result of the fact that plans to lower the maximum tax rate in Great Britain were withdrawn after they had previously caused turbulence in the financial markets and ultimately even the intervention of the Bank of England.
Investors in Tokyo were also pleased that core prices in Japan had not increased further in September. Nevertheless, the year-on-year increase of 2.8 percent was again well above the Japanese central bank’s target value. North Korea’s new missile tests over Japan’s maritime airspace only caused a political stir, but had no impact on the capital market.
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