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16.03.2015 19:00

European stock markets mid-session: DAX extends all-time high - above 12,000 points

European stocks trade higher on Monday despite Friday's losses on Wall Street with the German DAX trading again at new all-time highs - breaching the 12,000 points mark. The weaker euro, slightly rebounding from new 12-year lows set on Friday, is supporting export-heavy sectors and investors speculate on higher earnings. Worries over Greece continue to weigh but equities remain supported by the ECB's quantitative easing program started on Monday last week. The ECB is buying bonds worth 60 billion euros a month. Today's speech of ECB President Mario Draghi scheduled for 18:45 will be in the focus.

The commodity heavy FTSE 100 index is currently trading +0.52% quoted at 6,775.41, boosted by gains in the mining sector. Germany's DAX 30 added +1.12% trading at 12,034.34 setting a new all-time high at 12,054.30 points with Siemens being among the top performers on news of a deal in Egypt. France's CAC 40 is currently trading at 5,048.11 points, +0.75%.

Market focus

  • UK PM Theresa May says that she is to step down on 7 June
  • UK retail sales remained unchanged in April
  • Italy’s Deputy Prime Minister Salvini says EU fiscal rules must be changed
  • President Trump says 'dangerous' Huawei could be included in U.S.-China trade deal
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