31.03.2020 Dax 30 Daily Analysis

31.03.2020 Dax 30 Daily Analysis

The Dax 30 is holding steady and seems to be heading for Bull territory even as the Coronavirus cases keep on rising steadily. Germany, the European powerhouse, has confirmed more than 62k cases and more than 8k deaths. The Index has a current trading value of €10026.95. It has finally broken through the €10000 mark and seems to be going up as investors keep hoping that Angela Merkel, the Chancellor, will implement more stimulus to boost the economy. The latest reports suggest that the country is willing to spend as much as €600 billion to aid companies and individuals. The effects of the Pathogen are already being felt in the country with several large companies from the Index stating they won't be paying rent for their retails businesses this month(Adidas and Mediakart) and Lufthansa the national carrier has made a statement that they will be putting about thirty-one thousand workers on shorter hours until they are ready to resume in September. This is because the airline has been flying less and less the past couple of weeks since the pandemic started.