The joy of the ongoing glut of money in the euro area attracted investors to the European stock markets at the end of the week. the Dax closed with 15,669 points one percent higher. “The ECB has made it clear that it is not thinking of tightening its monetary policy even after its strategy review and strategy changeover,” said portfolio manager Thomas Altmann from QC Partners. That instills new courage in investors. The markets were also supported by solid company balance sheets and positive economic data. In July, for example, the economy in the euro zone recorded the fastest growth rate in 21 years. The purchasing managers index, which combines industry and service providers, rose to 60.6 points from 59.5 points in June. Among the top favorites in the Dax were the shares of the automotive supplier Continental with a premium of 3.1 percent. According to stockbrokers, an increase in sales and profits at the French auto supplier Valeo created a good mood in the industry. Valeo titles jumped 6.1 percent in Paris. Supported by a buy recommendation from the investment bank Kepler Cheuvreux, Daimler shares rose 5.5 percent at the top of the Dax. Vonovia papers, which lost 2.7 percent of their value, and Deutsche Wohnen with a slight increase of 0.4 percent, were on the losing side. Vonovia’s takeover of Deutsche Wohnen is again on the brink of failure.
In the M-Dax, the shop pharmacy created a topic of conversation with its forecast lowering. Above all, the capped profit prospects are surprising and would raise questions, wrote an expert. The shares of the online pharmacy slumped at times just under 13 percent. Most recently they were even 0.9 percent up.
Based on price gains in technology stocks, the US stock exchanges gain. the Dow Jones rose by 0.7 percent. The broader S&P 500 and the technology-heavy Nasdaq Composite set new records. Investors were encouraged by the financial figures from Twitter and Snap. The short message service had increased advertising income and sales significantly. The stock gained three percent. Snap’s titles rose by almost 24 percent. The Snapchat operator had also increased its sales more than expected.