China makes the DAX index grow today

China has become the flagship of growth for the European stock market indexes

In brief: German DAX index rose against the great news from China. European markets also rose against the background of the Asian gap today.

Monday, June 21, the German index showed healthy growth indices. The main reason for this was China’s announcement coming weakening currency corridor. In addition, the central bank of Germany has raised its forecasts for GDP growth to 1.9% this year and 1,4% in 2011 The German DAX index added 1.22% and reached a level of 6,292.97 points and the index TecDAX advanced on 1,60% to a mark of 789.61 points.

World’s third largest cement maker, German HeidelbergCement, rose by 2.44% on news of opening factories in India, Bangladesh and Indonesia, as the company intends to cut costs and debt load to achieve better financial results. Management plans to close the production of building materials, because it does not fit into the framework of the chosen strategy. On the action of German carmakers BMW, Daimler and Volkswagen continue to produce high demand for several consecutive days, their average increase was more than 2%.

Ukrainian Globalist
2010-06-21 18:22, Economics.

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