{"id":12485,"date":"2021-08-02T09:04:41","date_gmt":"2021-08-02T09:04:41","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/08\/02\/dax-edges-higher-on-economic-optimism-2\/"},"modified":"2021-08-02T09:04:41","modified_gmt":"2021-08-02T09:04:41","slug":"dax-edges-higher-on-economic-optimism-2","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/08\/02\/dax-edges-higher-on-economic-optimism-2\/","title":{"rendered":"DAX Edges Higher On Economic Optimism"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"divBody\">\n<div id=\"ctl00_CPI_dvBody\">\n<p> German stocks eked out modest gains on Monday as optimism around earnings and economic reopening helped investors shrug off signs of slowing growth in China. <\/p>\n<p>Risk appetite was also boosted after the U.S. Senate on Sunday finalized the text of its $1 trillion bipartisan infrastructure bill. The legislation will next be introduced to the Senate.<\/p>\n<p>Closer home, Germany&#8217;s retail sales growth exceeded expectations in June as the relaxation of restrictions related to the pandemic supported consumer demand, data from Destatis revealed earlier today. <\/p>\n<p>Retail sales grew 4.2 percent month-on-month in June, much faster than the economists&#8217; forecast of 2 percent. Nonetheless, the latest increase was slower than the 4.6 percent growth logged in May.<\/p>\n<p>Faster growth in new orders and employment boosted Germany&#8217;s manufacturing sector in July, a separate survey showed. IHS Markit&#8217;s final Purchasing Managers&#8217; Index (PMI) for manufacturing rose to 65.9 in July from 65.1 in June.<\/p>\n<p>The benchmark DAX edged up 57 points, or 0.4 percent, to 15,602 after losing 0.6 percent on Friday. <\/p>\n<p>Automakers led a broad advance, with BMW, Daimler and Volkswagen all rising about 2 percent.<\/p>\n<p>Vonovia gained half a percent. The company nudged up its offer for rival real estate company Deutsche Wohnen SE to about 19.1 billion euros ($22.7 billion).<\/p>\n<p>Allianz slumped 6 percent. The insurer said earnings could be materially hurt by a U.S. Justice Department investigation into its Structured Alpha Funds that have been linked to investor losses during the <span class=\"landLinks\">coronavirus<\/span>-related market downturn early last year. <\/p>\n<\/p>\n<p>Market Analysis<\/p>\n<\/div><\/div>\n<p><script type=\"text\/javascript\">\n        window.fbAsyncInit = function () {\n            FB.init({\n                status: true,\n                cookie: true,\n                xfbml: true\n            });\n        };\n        (function (d) {\n            var js, id = 'facebook-jssdk'; if (d.getElementById(id)) { return; }\n            js = d.createElement('script'); js.id = id; js.async = true;\n            js.src = \"https:\/\/connect.facebook.net\/en_US\/all.js\";\n            d.getElementsByTagName('head')[0].appendChild(js);\n        }(document));\n    <\/script><br \/>\n<br \/>\n<br \/>DAX Edges Higher On Economic Optimism<\/a><br \/>\n<br \/>2021-08-02 09:04:41<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>German stocks eked out modest gains on Monday as optimism around earnings and economic reopening helped investors shrug off signs of slowing growth in China. Risk appetite was also boosted&#8230;<\/p>\n","protected":false},"author":2,"featured_media":12486,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.unsplash.com\/photo-1531412501799-1b4c354ca957?ixid=MXwxMjA3fDB8MHxwaG90by1wYWdlfHx8fGVufDB8fHw=&ixlib=rb-1.2.1&auto=format&fit=crop&w=2734&q=80","fifu_image_alt":"","footnotes":""},"categories":[29],"tags":[],"class_list":["post-12485","post","type-post","status-publish","format-standard","has-post-thumbnail","category-euro-markets"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/12485","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=12485"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/12485\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/12486"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=12485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=12485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=12485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}