The DAX and the CAC 40 maintain a bullish rally
The leading European indices were nearing all-time highs in the middle of the session, driven by bank stocks and the unexpected improvement in French consumer confidence despite restrictions to curb the Covid pandemic.
Germany's DAX made the most gains in the mid-session, at around 0.6%, thanks to shares in automakers and gains from Deutsche Bank. Following their lead, increases of the French CAC40 index stand out, driven by French consumer confidence to 94 points from 91 the previous month, the highest level since December.
Wall Street futures, however, are clearly not joining them in increases after banks linked to the Archegos group fell yesterday, due to the breach of their payment commitments to cover losses. This situation, however, has not hit the stock markets too hard after ruling out a general debacle.
Let's look at the DAX chart:
Source: Admirals MetaTrader 5. Daily DAX chart. Data range: from March 3, 2021 to March 30, 2021. Prepared on March 30, 2021 at 11:30 am CET. Keep in mind that past returns do not guarantee future returns.
Price evolution in the last 5 years:
- 2016: + 6.87%
- 2017: +12.51%
- 2018: -18.26%
- 2019: +25.48%
- 2020: + 3.55%
With the Admiral Markets Trade.MT5 account, you can trade Contracts for Differences (CFDs) on the DAX30 and other leading indices! CFDs allow traders to try to profit from the bull and bear markets, as well as the use of leverage. Click on the following banner to open an account today:
INFORMATION ABOUT ANALYTICAL MATERIALS:
The given data provides additional information regarding all analysis, estimates, prognosis, forecasts, market reviews, weekly outlooks or other similar assessments or information (hereinafter “Analysis”) published on the websites of Admiral Markets investment firms operating under the Admiral Markets trademark (hereinafter “Admiral Markets”) Before making any investment decisions please pay close attention to the following:
- This is a marketing communication. The content is published for informative purposes only and is in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.
- Any investment decision is made by each client alone whereas Admiral Markets shall not be responsible for any loss or damage arising from any such decision, whether or not based on the content.
- With view to protecting the interests of our clients and the objectivity of the Analysis, Admiral Markets has established relevant internal procedures for prevention and management of conflicts of interest.
- The Analysis is prepared by an independent analyst, Carolina Caro (analyst), (hereinafter “Author”) based on their personal estimations.
- Whilst every reasonable effort is taken to ensure that all sources of the content are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admiral Markets does not guarantee the accuracy or completeness of any information contained within the Analysis.
- Any kind of past or modeled performance of financial instruments indicated within the content should not be construed as an express or implied promise, guarantee or implication by Admiral Markets for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.
- Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, please ensure that you fully understand the risks involved.
