Frankfurt: The Frankfurt Stock Exchange’s DAX and MDAX benchmarks thrived during Monday trading on the backdrop of an American-Chinese agreement to suspend tariffs for 90 days and lowering their rates.
According to Kuwait News Agency, the DAX index, which includes 40 German companies, increased by 1.54 percent to reach 23,861 points. Meanwhile, the MDAX saw a rise of 1.10 percent, bringing it to 30,056 points.
The announcement from Washington and Beijing was met enthusiastically by markets globally, following the US’s decision in April to impose new tariffs on products imported from China.