Wednesday, June 3, 2020

Frankfurt Stock Exchange: Dax grows – investors rely on European aid package

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After taking a break in the middle of the week, prices on the German stock market will pick up again on Thursday. The Dax rose 1.5 percent in early trading to 10,487 points.

Market players are eagerly awaiting the continuation of negotiations by the Eurogroup on an aid package to deal with the Corona crisis. “Everyone on the stock exchanges expects a quick settlement,” said analyst Thomas Altmann from QC Partners. Should this fail to materialize, however, it would be a hard blow to the equity markets.

There are certainly skeptical voices: “In the meantime, the market is likely to be relieved that Europe’s finance ministers can agree on anything at all,” wrote foreign exchange expert Thu Lan Nguyen from Commerzbank. Hopes that the euro countries would move closer together in the Corona crisis “should already have been buried” anyway. Aid to combat the economic slump is now urgently needed.

The MDax rose 1.8 percent to 22,092 points. The Eurozone leading index EuroStoxx 50 advanced by 1.3 percent.

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