DAX Index Rose Significantly

Forex News

The main stock indexes of Europe rose today. The German DAX index increased by 0.52% and is trading at 13.126.00 level. The DAX index jumped 1.4% this week, despite the political uncertainty in Germany.

German Chancellor Angela Merkel was unable to form a coalition. Negotiations on the formation of the government continue for a month, but the Free Democratic Party (FDP) said it has no confidence to enter a government with Angela Merkel’s CDU-CSU alliance and the Greens. President Frank-Walter Steinmeier called on the parties to compromise in order to reach an agreement.

ECB President Mario Draghi addressed the European Parliament Committee yesterday and expressed optimism about the Eurozone economy. The politician said that the economy continues to grow, and employment remains at a record high.