Frankfurt Stock Exchange: Dax gets off to a good start – Deutsche Bank surprises positively

The Dax started the shortened trading week on Monday with significant gains. Germany’s benchmark index was 2.68 percent higher at 10,612.89 points after the weak previous week.

Previously, the main stock markets in Asia had already risen. At the start of the week, the MDax of medium-sized stocks was up 1.93 percent at 22,669.52 points. The EuroStoxx 50, the eurozone’s leading index, gained just over 2 percent.

Japan’s central bank is taking further action to help the economy in the fight against the Corona crisis. After weeks of gridlock over the Corona pandemic, some states are also cautiously and gradually easing their restrictions on everyday and economic life.

Deutsche Bank got off to a surprisingly good start to the year. Deutsche Bank shares soared nearly 11 percent at the Dax peak. In the wake of this, the shares of competitor Commerzbank in the MDax increased by around five percent.

The agrochemicals and pharmaceuticals group Bayer also defied the Corona crisis thanks to high demand in the agricultural business and the coagulation inhibitor Xarelto and exceeded expectations. Investors rewarded this with an increase of just over three percent.

But sportswear maker Adidas suffered a drop in sales and profits in the first quarter due to the Corona pandemic. But investors were hopeful that the recovery in China has continued. The shares fluctuated sharply in the course of trading and were last recorded at a minimal rate of increase.

Lufthansa’s papers were helped by the prospect of a multibillion-dollar rescue package. Lufthansa’s shares soared by almost nine percent.

The euro was trading at US1.0849 US cents. The dollar was worth 0.9217 euros. The European Central Bank had set the benchmark rate at 1.0800 dollars on Friday (Thursday: 1.0772). The dollar was at 0.9259 (0.9283) euros.

On the German bond market, the Rex bond index rose 0.05 percent to 144.78 points. The yield on the stock fell to minus 0.47 percent from minus 0.46 percent on Friday. The Bund futures lost 0.09 per cent to 172.59 points.