28.04.2020 DAX 30 Daily Analysis

28.04.2020 DAX 30 Daily Analysis

The Dax 30 was one of the best performing European Indices on Monday gaining an additional 2.5% and closing at €10659.99. This is can all be attributed to two major stocks: Deutsche Bank and Adidas. Deutsche Bank released its First Quarter earnings and showed they had made profits totaling €206 million(pre-tax)  which was better than the losses that analysts had forecasted. These profits are still lower than the previous year but at a time when losses are being made everywhere, it was good news. Deutsche Bank was the best performing stock on The Dax after it's stock went up 10%. Adidas stock rose too despite falling profits. Adidas’ profits were down 95%. This was expected because most retail shops globally are closed down and no sporting activities are going on. Another top performer was Lufthansa- The German national carrier. Last week the airline company said they had lost money and were on the brink of bankruptcy but the German government came to the rescue- since such a big company can't be allowed to go down.