Germany's DAX Closes At Record High

Germany's blue-chip DAX 30 index closed above 13,800 points for the first time ever on Wednesday, boosted by hopes of fresh US stimulus following apparent wins by Democrats there

Frankfurt am Main, (UrduPoint / Pakistan Point News - 6th Jan, 2021 ) :Germany's blue-chip DAX 30 index closed above 13,800 points for the first time ever on Wednesday, boosted by hopes of fresh US stimulus following apparent wins by Democrats there.

The index of Frankfurt's leading shares climbed 1.76 percent to close at 13,891.97 points, slightly below an all-time high reached earlier in the session of 13,919.23 points.

It marks the latest in a series of fresh records set by the benchmark German index in recent weeks.

Other European stock markets also pushed higher on Wednesday, with London's FTSE 100 jumping by almost 3.

1 percent.

Two Democratic candidates claimed victory in runoff elections in the US state of Georgia that could give the party control of both houses of Congress and make it easier for Biden to enact campaign pledges on spending to boost the recovery of the US economy.

Independent analyst Timo Emden said the vaccine rollout in Europe along with the US vote outcome were lifting hopes for a recovery of pandemic-hit economies.

"Economic optimists are taking the upper hand again," he said, predicting further gains for the DAX.

"The psychological mark of 14,000 points is slowly coming in sight."