Germany’s DAX Hits Record High After Brexit Deal, U.S. Stimulus
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Germany’s DAX Index climbed to a record high ten months after the pandemic-fueled equity rout, amid investor relief following a Brexit deal and as U.S. President Donald Trump signed a coronavirus stimulus package.
The index gained 1.5% on Monday, surpassing its February intraday high, while the broader Stoxx Europe 600 Index is still yet to recover all of the losses suffered earlier this year. In its fastest-ever rebound from a major selloff to a fresh peak, the German gauge has surged 67% since a six-year low in March, helped by the likes of chip company Infineon Technologies AG and carmaker Daimer AG.