The Dax ended its recent series of losses on Monday. After a weak start, the leading German index turned positive and recently gained 0.75 percent to 12,364.97 points.
The situation was similar for the MDax for medium-sized companies, which even rose by 1.63 percent to 22,898.32 points. The significant price increases in shares from particularly energy-intensive sectors such as chemicals and steel proved to be the driving force. The leading eurozone index, the EuroStoxx 50, managed only a minimal increase.
Chemical and steel stocks were particularly in demand: Covestro and BASF rose by 9.2 and 7.2 percent to the top of the Dax, and Lanxess, Wacker Chemie, Evonik and Thyssenkrupp occupied the MDax with premiums of up to more than eight percent front seats. Salzgitter was the leader in the SDax small-cap index with a good eight percent plus. Traders attributed the price gains to the proposals of the Gas and Heat Expert Commission, which are likely to be of great importance for heavy industrial energy consumers.
Thanks to the increase in the profit target, Deutsche Post was also one of the Dax favorites with a price increase of over six percent. According to preliminary figures, the logistics group also achieved a surprisingly high operating profit in the third quarter.
The euro recently fell to $ 0.9707. The European Central Bank (ECB) had set the reference rate at $0.9797 on Friday.
On the bond market, the current yield rose from 2.03 percent on Friday to 2.05 percent. The Rex pension index increased by 0.10 percent to 128.09 points. The Bund future lost 0.20 percent to 137.40 points.