DAX Is Closing in on Record High Faster Than Its Euro-Area Peers
- German index advances last week toward record high set in 2015
- Italy’s FTSE MIB needs to more than double to reach record
Germany’s DAX Index, among the best performers last year, fell 3.5 percent, the most in western Europe.
Photographer: Ralph Orlowski/BloombergThis article is for subscribers only.
Germany’s DAX index has zoomed in on its record high in recent weeks and has room to power ahead as investors scoop up shares in industrial companies that will benefit from accelerating global economic growth.
The DAX, which has been outperforming most other euro-zone equity indexes this year, is about 3.5 percent -- or about 430 points -- shy of a record-high close of 12374.73 set in April 2015. This comes despite a retreat on Monday led by shares in Deutsche Bank AG, after it announced plans to raise about $8.5 billion in a share sale.