23 May
Investor optimism and Bundestag reforms keep DAX near all-time highs
The German index DAX is declining on Wednesday after rising by 0.98% the day before. The latest positive dynamics was due to the expected important vote on the Germany’s debt brake reform.
On Tuesday, the Bundestag passed the bill, proposing a massive rise in government borrowing and changes of the country’s debt rules.
German stocks also rose on the release of a survey showing an increase in investor confidence in March. The ZEW economic sentiment index jumped 25.6 points to 51.6 this month, which became the biggest monthly gain in 14 months and the highest level since February 2022, well above the consensus forecasts of 48.1 points.
Despite profit taking on Wednesday, the DAX 40 index remains close to its all-time high of 23,475 points set in early March, ShareCast reports.
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