FRANKFURT / LONDON (IT BOLTWISE) – International stock markets are showing signs of recovery as hopes grow for an early end to the US government shutdown. The Dax and the EuroStoxx 50 start the week with significant gains. Hannover Re and Siemens Energy in particular benefit from positive company news.
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Global stock markets rallied earlier in the week as hopes of an early end to the US government shutdown boosted investor sentiment. The Dax, which has suffered losses in the last two weeks, is expected to post significant gains. The pre-market indicator X-Dax signals an increase of 1.4 percent to 23,896 points. The EuroStoxx 50, the leading index for the Eurozone, will also start trading with an increase of 1.5 percent.
A decisive factor for the positive development is the news that the US Senate has agreed to discuss an interim budget introduced by the House of Representatives. This is seen as a crucial step towards ending the shutdown, which has already led to positive reactions in US markets. The Dax’s support at 23,500 points was once again maintained, which further strengthens investor confidence.
Particular attention is paid to some companies that are benefiting from the current market situation. After the publication of the quarterly figures, Hannover Re shares rose by 2.1 percent in premarket trading. Despite the severe wildfires in California, the reinsurer was able to raise its profit forecast for the year. Commerzbank and Siemens Energy are also showing positive developments, boosted by upgrades and positive ratings.
The steel group Salzgitter, on the other hand, remains cautious for the year as a whole, despite a slight increase in the share price on Tradegate. The new, more cautious targets were largely expected, according to market observers. A series of buy recommendations are causing an upswing at Süss Microtec, with the shares rising by 8 percent in the premarket. These developments show that markets remain optimistic despite the uncertainties surrounding the US shutdown.
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