The DAX rose nearly 1% to 26,104 points on Thursday morning, moving back above the 26,000 mark. The gains followed the Democrats’ victory in the US midterm elections, a result that had been widely anticipated by markets.
A measured response from US President Donald Trump may also have helped support cautious optimism. Trump congratulated the Democrats and said he would not repeatedly use his veto powers to block legislation.
Before the vote, analysts had raised concerns that Trump might reject the result and trigger political turmoil. With Democrats holding majorities in both chambers of Congress, Trump is set to have less influence during the final two years of his term.
The election’s implications for the war with Iran remain uncertain. Before November 3, concerns had emerged that the US and Israel might intensify attacks, pushing oil and gas prices higher. So far, however, there is no indication of such a development. Company results and inflation data are also contributing to market activity, while Heidelberg shares were reported to have climbed sharply.
Sources: Handelsblatt.