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%
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