Global Equities Restore, DAX Strengthens by 0.79%
European stock indexes rose today, as markets around the world tried to get rid of the large-scale volatility, observed in recent sessions. The German DAX stock index strengthened by 0.79% and is trading at the level of 12.490.00. The DAX index fell by 4.2% last week, as the sharp drop in Deutsche Bank shares on Friday lowered European equity markets.
The US stock markets started the week with significant losses, and the Dow Jones published its biggest one-day loss. Nevertheless, US stock markets rebounded on Tuesday, and this trend continued on Asian and European markets today.
Political leaders in Germany are reported to have reached a breakthrough in the negotiations to form a new government. According to media reports, the Christian alliance of Chancellor Angela Merkel and the Social Democrats agreed on the deal after several months of uncertainty after the September elections.
Industrial production in Germany fell by 0.6% in December, in contrast to the growth of 3.1% in November (revised from 3.4%). Economists predicted that output would drop by 0.5%. This marked the third decrease in four months.