FRANKFURT (dpa-AFX) – After two recent weeks of weakness, the German stock market opened with moderate gains on Monday. The DAX rose 0.7 percent to 23,770 points in the first few minutes of trading.
However, it is questionable whether the gains will hold until the close of trading. This is because French Prime Minister François Bayrou will be putting his government’s confidence to the vote in the National Assembly this afternoon. His government is in danger of collapsing. The highly indebted country needs to tighten its belt, but there is no consensus on the austerity measures.
The MDax index of medium-sized companies gained 0.9 percent to 30,277 points at the start of the week. The EuroStoxx 50, the leading index of the eurozone, rose by 0.5 percent./bek/stk
