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The MDax of medium-sized enterprises increased by 0.48% to 26,654.88 points. The TecDax technology index rose 0.52% to 2,901.26 points. The EuroStoxx 50, the leading index of the euro area, recorded a gain of about 0.4%.
Beijing Announces Support for the National Export Industry
Chinese trading platforms in particular have seen a significant increase. The main reason was the announcement by the Beijing government to support the domestic export industry in order to mitigate the effects of the trade dispute with the United States. "China has once again reported how small the area of attack on US President Donald Trump is, investors are already celebrating the package," said Portfolio Manager Thomas Altmann of QC Partners. uncertainty among investors about the trade dispute is still too great. "There is currently no foreseeable slackening or end to the conflict, and Trump could at any time trigger the next sale on the financial markets with appropriate remarks," says Henke.
From the industry's point of view, the Dax focused on bank securities and automobile stocks. Bank stocks benefited from solid quarterly figures from the Swiss bank UBS. Thus, Commerzbank shares at Dax peak 2.4 percent. Deutsche Bank shares rose 0.9%. UBS shares gained more than 2%.
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