Building on recent gains, Germany’s benchmark DAX Index soared another 4.6% overnight to technically leave a bear market it entered in March.
A bounce for the export-heavy gauge, which fell as much as 40% during the recent selloff, comes amid signs that infection rates in parts of Europe may be nearing a peak.
“It makes sense to see the DAX gauge to do better,” said Frederik Hildner, a portfolio manager at Salm-Salm & Partner. “However, not retesting the lows in the absence of major medical progress would simply be astonishing to me.”
ETFs: EWG, DAX, GF, HEWG, EWGS, DXGE, DBGR, FGM, FLGR, ZDEU