Hopes for a diplomatic defuse of the crisis in the Middle East supported the Dax on Monday. The leading German index gained 0.34 percent to 15,237.99 points. The MDax for medium-sized companies recorded an increase of 0.25 percent to 25,019.40 points.
US Secretary of State Antony Blinken met again with Israeli Prime Minister Benjamin Netanyahu and President Izchak Herzog. US President Joe Biden and Federal Chancellor Olaf Scholz apparently also want to travel to Israel in the coming days.
“In line with diplomatic efforts on all sides to prevent a conflagration in the Middle East, the situation on the stock market is easing,” said analyst Konstantin Oldenburger from broker CMC Markets. Investors relied on diplomacy.
Price-moving German company news was in short supply. Commerzbank and Deutsche Bank were among the biggest winners in the Dax with price increases of 4.8 and 1.7 percent respectively. On Friday, both stocks were among the losers despite positive quarterly reports from US competitors.
For Thyssenkrupp, one of the best MDax stocks, it rose by 2.9 percent – a positively received analyst study on steel competitor Salzgitter was a possible price driver. Its stocks gained 4.7 percent in the SDax small cap index after the US bank JPMorgan upgraded them and now advises a neutral weighting.
The European stock markets also appeared slightly recovered: the Eurozone leading index EuroStoxx 50 closed 0.33 percent higher at 4149.86 points. The leading stock exchanges in Paris and London rose by a similar amount. In the USA, the Dow Jones gained more than one percent at the end of European trading.
On the German bond market, the current yield rose from 2.75 percent on Friday to 2.78 percent. The Rex bond index fell by 0.12 percent to 123.33 points. The Bund future fell by 0.46 percent to 129.15 points.
The euro recovered somewhat from the losses of the past trading days. Most recently, the common currency cost 1.0550 dollars. The European Central Bank set the reference rate at $1.0538 in the afternoon.
