FRANKFURT (dpa-AFX) - After a very weak previous week, the Dax made some gains on Monday. After the Xetra opening, the leading German index gained 0.48 percent to 18,260 points. However, analyst Jochen Stanzl of CMC Markets wrote that the gain at the start of trading should not obscure the fact that the index remains under selling pressure. The downward trend in the seasonally weak summer period is taking full effect this year.
On Wall Street, the correction from the record rally continued on Friday. The reaction of the US stock market to the withdrawal of incumbent President Joe Biden from the presidential election campaign against Donald Trump will be exciting at the start of the week. After the assassination attempt on Trump a week ago, his chances seemed to have increased recently. Now the cards are being reshuffled.
"The new situation in the presidential election campaign is also the top topic on the stock market today," wrote market expert Thomas Altmann from asset manager QC Partners. The question of whether Vice President Kamala Harris could beat Donald Trump is likely to be particularly moving. She is the most promising replacement candidate.
According to Landesbank Baden-Württemberg, the probability of a Trump election victory has decreased following the departure of Joe Biden. With Kamala Harris, the Democrats would have the momentum on their side and could also turn the tables on a 59-year-old leading candidate and cast doubt on Donald Trump's mental fitness due to his advanced age.
The MDax mid-cap index rose by 0.27 percent to 25,413 points on Monday. The Eurozone's leading index, the EuroStoxx 50, gained 0.5 per cent./ajx/mis
