Germany’s DAX Index climbed to a record high 10 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 by 1.5 percent 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, Bloomberg reports. In its fastest-ever rebound from a major selloff to a fresh peak, the German gauge has surged by 67 perent since a six-year low in March, helped by the likes of chip company Infineon Technologies AG and carmaker Daimer AG. The rally in the exporter-heavy benchmark comes after the U.K. and the European Union finally agreed on a Brexit trade deal and as investors look past the country’s rising coronavirus cases toward an anticipated global recovery next year spurred by vaccines. All 30 members in the DAX have climbed since the March low, with Daimler AG and Infineon Technologies AG leading the pack as their shares have more than doubled.

Source: The Standard December 28, 2020 08:26 UTC