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Germany’s DAX climbs out of bear market (NYSEARCA:EWG)

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

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