Second session of December, and Europe is having a new day marked by widespread increases in the main indices on the stock market. In the photograph from the Old Continent take the leadership Germany’s references by attacking maximum levels in its history at 20,000, while Spain tried to recover 12,000 points, levels not seen since January 2010. Finally, The German Dax closes above these levels, at 20,016 pointsscoring its new historical mark thanks to a rise of 0.42% on the day, and the Ibex 35 is 1% away from reaching these long-awaited levels againat 11,873 points, thanks to its increase of 1.2%.
The German stock market has been hesitating throughout the session around the desired 20,000 points, after weeks rising by rally bullish trend that led the index to have the highest rise in November on the continent, unlike its European counterparts, which closed with losses in the monthly balance after the victory of Donald Trump. The firms that support the latest increases in the index are Heidelberg Material, which adds 3.2% to its price, while Deutsche Bank and Infineon advance 2.8% and 2.2% respectively.
DWS Senior Portfolio Manager Sabrina Reeh comments that, after surpassing this mark, they see “great potential for the Dax and we are also looking positively at the remaining secondary stocks for next year. Some companies have not participated in the movements of prices and the Dax remains undervalued by global standards“.
The German reference manages to record an increase of 19.5% in 2024after having definitively removed the title of most bullish from the Spanish stock market a couple of weeks ago. Even so, The Ibex 35 overtakes the German in the session’s risessince it managed to advance 1.2%, the largest increase in the Old Continent, while at an annual level it rose 17.5%. The Spanish selective closes trading in the 11,873 points, levels that it has not had since the end of October, before the elections in the US.
The Iberian index had already tried to reach its all-time highs on two other occasions, and even managed to set intraday ceilings at 12,023 points, but did not close with its price at these levels. The Ibex has been chasing these levels since the beginning of the year, now it is once again at their doorstep. In this session, ACS has been the main push for the selective of the 35 firms, rising 5.4% to 46.6 euros, which brings the firm closer to its historical highs: 50 euros, which has not played since mid-2007.
The rest of Europe
The rest of the continent is also colored green. The Italian FTSE Mib rises 1% in the session. The British FTSE 100 rose 0.6%, while the benchmark index in Europe, the EuroStoxx 50, rose 0.7% in the last session. The Cac 40 even manages to rise in its price, despite the political tension due to a possible motion of no confidence in the Macron government, up to 0.3%. Investors’ expectations of a Christmas rally seem more real with these advances from the continent.
On the other hand, Wall Street has slight falls at the European close, the Nasdaq 100 loses 0.3%, the Dow Jones gives up 0.2%, and the US index par excellence, the S&P 500, corrects 0.18% .
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