BERLIN: Germany’s DAX-30 index of blue-chip stocks has taken the next big hurdle with ease, moving beyond the psychologically important 12,000 points. The new record high comes amid the ECB’s bond-buying program.
The German stock market kept being in a bullish mood Monday, with the benchmark DAX index exceeding the 12,000-point threshold and hitting a new all-time high in early trading on the Frankfurt Stock Exchange.
Analysts said the main driver behind the new record level had been the launch of a trillion-euro bond-buying program by the European Central Bank (ECB), which had started pumping tens of billions of euros into markets each month so as to head off deflation and revive eurozone economies.
Another factor had been the euro’s continuous downslide, with the single currency well on its way to parity with the greenback. The weak euro has resulted in cheaper exports for German companies which also helped their stock values going up again.
