Second session of December, and Europe is experiencing another day marked by widespread increases in the main stock market indices. In the photograph of the Old Continent, take the direction Germany’s credentials in tackling the highest levels in its history at 20,000, while Spain attempted to recover 12,000 points, levels not seen since January 2010. Finally, The German Dax closes above these levels, at 20,016 pointsmarking its new historic record thanks to an increase of 0.42% over the day, and the Ibex 35 is 1% away from reaching these long-awaited levels againto 11,873 points, thanks to its increase of 1.2%.
The German Stock Exchange hesitated throughout the session around the desired 20,000 points, after weeks of rising prices. rally upward trend which led the index to experience the strongest increase in November on the continent, unlike its European counterparts, which closed with losses in the monthly balance after the victory of Donald Trump. Companies supporting the latest rises in the index are Heidelberg Material, which adds 3.2% to its price, while Deutsche Bank and Infineon are up 2.8% and 2.2% respectively.
Sabrina Reeh, senior portfolio manager at DWS, comments that after passing this mark, they see “great potential for the Dax and we also view the remaining secondaries positively for next year. Some companies have only not participated in price movements and Dax remains undervalued by global standards“.
The German reference manages to record an increase of 19.5% in 2024after definitively removing the title of most bullish on the Spanish stock market a few weeks ago. Anyway, The Ibex 35 overtakes the German on the climbs of the sessionsince it managed to advance by 1.2%, the highest increase in the Old Continent, while at the annual level it increased by 17.5%. The Spanish selective closes its negotiations on the 11,873 points, levels that it has not seen since the end of October, before the elections in the United States.
The Iberian index had already attempted to reach its all-time highs on two other occasions, and had even managed to set intraday highs at 12,023 points, but had not closed with its price at these levels. The ibexes have been chasing these levels since the beginning of the year and are now once again at their gates. During this session, ACS was the main driver of the selection of the 35 companies, up 5.4% to 46.6 euros, which brings the company closer to its historical highs: 50 euros, who hasn’t played since mid-2007.
The rest of Europe
The rest of the continent is also colored green. The Italian FTSE Mib increases by 1% during the session. Britain’s FTSE 100 index rose 0.6%, while Europe’s benchmark EuroStoxx 50 rose 0.7% last session. The Cac 40 even managed to increase its price, despite political tensions due to a possible motion of censure against the Macron government, by up to 0.3%. Investor expectations for a Christmas rally seem more real with these advances from the continent.
On the other hand, Wall Street experienced slight declines at the European close, the Nasdaq 100 lost 0.3%, the Dow Jones lost 0.2%, and the American index par excellence, the S&P 500, corrected 0.18%.
