Investing.com - The German DAX rose to a new record high on Monday as European equities markets followed on from strong overnight gains in Chinese markets
Investor sentiment was boosted after China outlined a series of broad economic reforms, including the easing of the one-child policy, reinforcing investor confidence in the country.
China’s government said it will open the way for more private investment in state-controlled industries and give more freedom to market forces in terms of pricing.
Germany’s DAX 30 advanced 0.75% to an all-time high of 9,236 as shares in utilities giants E.ON SE and RWE AG ST rallied 3.94% and 7.03% respectively.
The DAX received an additional boost after Germany’s central bank said Monday there was a good chance that the economic recovery in Germany will be further cemented in the coming months.
The Bundesbank also said the European Central Bank's current expansive policy was 'justified', but warned of dangers to financial stability in the medium to long-term.
Meanwhile, data on Monday showed that the euro zone’s trade surplus widened to EUR13.1 billion in September from EUR8.6 billion a year earlier. The report said exports rose 3%, while imports were flat.
Germany posted a surplus of EUR127.8 billion between January and August this year Eurostat said, the largest in the euro zone.
Last week the European Commission launched a probe into Germany’s ballooning trade surplus amid concerns that Germany’s export-led
economic model is undermining the recovery in the rest of the euro zone.
Investor sentiment was boosted after China outlined a series of broad economic reforms, including the easing of the one-child policy, reinforcing investor confidence in the country.
China’s government said it will open the way for more private investment in state-controlled industries and give more freedom to market forces in terms of pricing.
Germany’s DAX 30 advanced 0.75% to an all-time high of 9,236 as shares in utilities giants E.ON SE and RWE AG ST rallied 3.94% and 7.03% respectively.
The DAX received an additional boost after Germany’s central bank said Monday there was a good chance that the economic recovery in Germany will be further cemented in the coming months.
The Bundesbank also said the European Central Bank's current expansive policy was 'justified', but warned of dangers to financial stability in the medium to long-term.
Meanwhile, data on Monday showed that the euro zone’s trade surplus widened to EUR13.1 billion in September from EUR8.6 billion a year earlier. The report said exports rose 3%, while imports were flat.
Germany posted a surplus of EUR127.8 billion between January and August this year Eurostat said, the largest in the euro zone.
Last week the European Commission launched a probe into Germany’s ballooning trade surplus amid concerns that Germany’s export-led
economic model is undermining the recovery in the rest of the euro zone.