FRANKFURT (dpa-AFX) – The DAX paid tribute to its record run on Monday after the easing of tensions in the US-China trade war. The agreement to reduce mutual tariffs should benefit the US economy in particular and China in the short term, wrote Hendrik Mahlkow, a researcher in the Trade Policy Research Group at the Kiel Institute for the World Economy. The impact on the EU is expected to be minor.
After initially rising sharply and reaching a record high of just under 23,912 points right at the start, the German benchmark index slipped into negative territory at times. In the end, it closed 0.29 percent higher at 23,566.54 points. Significant gains in automotive and technology stocks were offset by sharp losses in defense stocks.
The MDax index of medium-sized companies ultimately rose by 0.19 percent to 29,785.72 points. The Eurozone’s leading index, the EuroStoxx 50, gained 1.6 percent. However, with growth of 10…
