German “Dax” violates the decline in European shares

The pan-European STOXX 600 index closed lower on Monday as declines in technology shares offset gains in banking and energy shares, while German shares hit a 10-day high as federal election results raised chances of a left-wing coalition government.
The German index of leading stocks rose 0.3%, leading gains among the indices in the region, while the European Stoxx 600 index fell 0.2%.
German real estate firm Fonovia, aircraft engine maker MTU Aero Engines and renewable energy company Siemens Energy were the top gainers on the DAX index.
The oil and gas sector index rose 2.8 percent to its highest level in three months, while the banking sector added 2.8 percent.
Oil giants Total Energies, Royal Dutch Shell and BP rose between 3.4 percent and 4.8 percent, providing the biggest boost to the Stoxx 600 index.
The Stoxx 600 index has increased 15.9 percent since the beginning of this year, but less than the 18.3 percent rise of the Standard & Poor’s 500 index on Wall Street.
IWG shares jumped 4.4 percent, topping the Stoxx 600 index, after Sky News reported that the British office rental company was considering a multi-billion-pound separation deal that would see it split into several companies.
Zoplus AG gained 4.3 percent after Swedish private equity firm EQTAP made an offer to buy the online pet retailer for about 3.36 billion euros ($3.94 billion), more than an offer of 3.29 billion euros. Presented by the American direct investment firm Hillman & Friedman.


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