- Title: German DAX breaks new record, reaches historic high of 16,000 points
- Date: 13th August 2021
- Summary: FRANKFURT, GERMANY (AUGUST 13, 2021) (REUTERS) DAX CURVE ON ELECTRONIC BOARD POINTING UPWARDS DAX BOARD WITH BLUE BAR READING IN GERMAN "FOR THE FIRST TIME 16,000 POINTS / DAX" TRADER BOARD SHOWING DAX HIGH OF 16,030.33 POINTS AT 11:11 A.M. (0911 GMT) DAX BOARD TRADERS BANK SHARES ON BOARD (SOUNDBITE) (German) DIRECTOR OF SPECIALISED FIXED INCOME, ICF BANK, ARTHUR BRUNNER, SAYING: "After the United States announced its inflation figures on Wednesday you can actually feel the relief here. Ever since the DAX had a positive momentum and that continues today." DAX CURVE (SOUNDBITE) (German) DIRECTOR OF SPECIALISED FIXED INCOME, ICF BANK, ARTHUR BRUNNER, SAYING: "The only thing that could slow the optimism, at least as far as economic growth goes, is the ZEW Economic Sentiment index and the Sentix index (for the eurozone) which gave a bit of a gloomy outlook. However, right now you can feel the relief which is why the DAX has reached the 16,000 mark." BANK SHARES ON BOARD TRADER DAX BOARD BOARD SHOWING DAX INCREASE OF 68.05 POINTS OR 0.43% TRADING FLOOR / CEILING
- Embargoed: 27th August 2021 12:27
- Keywords: 000 points 16 break new record economy histori DAX high shares stocks trading
- Location: FRANKFURT, GERMANY
- City: FRANKFURT, GERMANY
- Country: Germany
- Topics: Europe,Economic Events
- Reuters ID: LVA001EQ43JBH
- Aspect Ratio: 16:9
- Story Text: European stocks scaled new highs on Friday (August 13), with Germany's DAX reaching a historic high of 16,000 points.
Stocks were on track for their fourth consecutive week of gains on optimism over a strong earnings season and steady recovery from the pandemic-led economic downturn.
The pan-European STOXX 600 index inched up 0.2% to 475.51, hitting a record high for the tenth straight session.
While the pace of gains has slowed due to thin summer trading, the last time it posted a 10-day winning streak was in December 2006. The index has logged nine-day gaining streaks seven times in the past fifteen years.
Frankfurt analyst Arthur Brunner of ICF bank said "after the United States announced its inflation figures on Wednesday you can actually feel the relief here. Ever since the DAX had positive momentum and that continues today."
Both European and U.S. stocks hit record levels this week, supported by rising earnings expectations and improving economic data, even as Asian equities were held back by worries about Chinese regulation and the fast-spreading Delta variant of the coronavirus.
At 1:50 p.m. 1150 GMT), Germany's DAX was at 16,002 points, an increase of 65 points or 0.41%.
(Production: Hakan Erdem, Tilman Blasshofer, Michele Sani)
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