FRANKFURT (dpa-AFX) – After the previous day’s setback, the German stock market recovered strongly on Thursday. The end of the traffic light coalition in Berlin had a supportive effect. Automotive stocks in particular, which had been punished on Wednesday, were on the road to recovery.
The Dax reached its high for the day in late trading and closed up 1.70 percent at 19,362.52 points. The previous day, the leading index had only just avoided slipping below the 19,000-point mark following Donald Trump’s election victory, falling by 1.1 percent. The MDax of mid-caps ended Thursday 0.73 percent higher at 26,529.40 points.
The early federal elections had raised hopes of more fiscal support for the beleaguered German economy, wrote Sandra Rhouma, analyst at investment house AllianceBernstein. Carsten Mumm from Bankhaus Donner & Reuschel also saw the end of the traffic light as an opportunity: “The end of the traffic light…
