There is spring-like optimism not only on the banks of the Main, but also on the Frankfurt Stock Exchange.
Picture: Lando Hass
The economy is still on the floor, but prices on the stock market are rising and rising. Can the bet work on the better future?
HThe mood on Frankfurt’s banks of the Main on this Thursday evening is festering, sunshine and mild spring air also offer a reason. The 40 million unemployed in America announced a few hours ago and a pandemic that is still raging in Germany seem like from a distant galaxy. Young people line the quay and drink wine. Loud bass sounds from music boxes. An investment banker, who is active in the takeover business and made an appointment with friends that evening, says: “We are doing well again, the crisis is over.”
There is also spring-like optimism on the Frankfurt Stock Exchange, not far from the Main. Labor market figures from the United States are putting a damper on this at around noon, but the Dax is up again in the evening. Just like all the days before. There was only a small damper on Friday. Nevertheless, the leading German index stubbornly heads for the 12,000 point mark, rising by more than 5 percent within a week. There is no trace of the crisis mood of March – since the crash, the index has increased by 40 percent.