Dax closes with a clear plus, Apple dethrones Saudi Aramco
Investors are cautiously optimistic at the start of the week, also thanks to good economic data at the beginning of the second half of the year. Shares in MTU and Siemens Healthineers are slipping against the trend.

03.08.2020, 14.40 Uhr

Opening of a new Apple store in Bangkok on July 31, 2020

Photo: Lauren DeCicca / Getty Images

Robust growth signals from leading indicators from China, Europe and the USA have prompted investors to buy stocks again at the start of the week. The purchasing manager indices signaled an economic recovery on Monday.

That pushed the Dax up 2.7 percent to 12,646.98 points by the close of trading. The medium-sized MDax index advanced 1.8 percent to 26,670.76 points. The EuroStoxx closed 2.33 percent higher at 3248.28 points.

The rise in the Chinese Caixin index, which reflects sentiment in small and private industrial companies, surprised analysts just as positively as similar data from the euro zone. These signaled growth again for the first time since the economic downturn in the Corona crisis. In the afternoon, the US ISM index also sent signals of an economic recovery. "Confidence is growing that the third quarter will be accompanied by strong growth," said economist Ralf Umlauf from Landesbank Helaba.

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However, corporate figures are particularly upbeat in the United States. "Many investors look back and cannot remember a reporting season that has been so gratifying, of course only relative to expectations, but not in absolute numbers," said market analyst Jochen Stanzl from CMC Markets. On average, the US companies with their previous figures are around a fifth above the low expectations, but around 35 percent below the previous year.

Apple surpasses Saudi Aramco as the most valuable public company
Technology stocks were particularly in demand: the corresponding industry index Nasdaq 100 gained 2.4 percent. Big tech earns splendidly in the USA; Apple has now even surpassed the Saudi oil giant Aramco in terms of market value. With an increase of 3 percent, the shares reached a market value of almost $ 1.9 trillion, slightly more than Saudi Aramco, which has so far been considered the most expensive company in the world.