Germany’s DAX was higher on Tuesday, closing at 10057.31 for a gain of 215.02 points or 2.18 percent. The DAX Volatility Index was down 8.44 percent to 20.84.
Source: Google Finance.
Trading was mainly positive for the day as stocks regained from previous overselling and volatility stabilized with lower trading volume as investors await results in June from the U.K. exit vote and ongoing discussions continued over Greek bailout terms.
On Tuesday, the European Central Bank released its Financial Stability report which highlighted some of the key political risks Europe in the current environment. The Financial Stability Report gives an overview of economic factors affecting Europe. Uncertainly over ECB monetary policy is also a factor for Europe markets currently as the ECB has been easing policy to loosen credit and help expand borrowing.
German-based materials company, Bayer and agricultural provider Monsanto were also in the news Tuesday after Monsanto rejected Bayer’s $62 billion bid for an acquisition of the company. Both stocks traded higher for the day. Bayer was higher by 4.31 percent and Monsanto gained 3.09 percent.
For the day sectors leading gains included insurance, chemicals and construction while retail, logistics and consumer cyclical led losses. Top performers in the DAX were Volkswagen AG, Bayer and Allianz. Stocks leading losses included Lufthansa AG, Adidas AG and Deutsche Post.
In other European markets on Tuesday, The FTSE 100 was higher at 6,219.26 for a gain of 82.83 points or 1.35 percent. The FTSE 250 was higher at 17,135.67 for a gain of 103.93 points or 0.61 percent. France’s CAC 40 closed at 4431.52 for a gain of 106.42 points or 2.46 percent. The Stoxx Europe 600 was higher at 344.12 for a gain of 7.43 points or 2.21 percent. The Europe Dow was higher at a 1544.65 for a gain of 26.81 points or 1.77 percent.
In Asia, stock trading was mixed. Japan’s Nikkei was down at 16498.76 for a loss of -155.84 or -0.94 percent. Hong Kong’s Hang Seng Index was higher at 19830.43 for a gain of 21.40 points or 0.11 percent. The Shanghai Composite in China was lower at 2821.67 for a loss of -21.98 points or -0.77 percent. The S&P BSE Sensex was higher at 25305.47 for a gain of 75.11 points or 0.30 percent. The Asia Dow was lower at 2561.20 for a loss of -20.78 or -0.80 percent.
In the U.S., the Dow Jones Industrial Average closed at 17,706.05 for a gain of 213.12 points or 1.22 percent. The S&P 500 was also higher, closing at 2,076.06 for a gain of 28.02 points or 1.37 percent. The Nasdaq Composite closed higher at 4,861.06 for a gain of 95.27 points or 2.00 percent.
Other notable index closes in the U.S. included the small-cap Russell 2000 closing higher at 1,135.31 for a gain of 23.94 points or 2.15 percent; the S&P 600 closing at 694.02 for a gain of 14.53 points or 2.14 percent; the S&P 400 Mid-Cap Index closing at 1,471.49 for a gain of 25.05 points or 1.73 percent; the Russell 3000 closing at 1,222.90 for a gain of 17.23 points or 1.43 percent; and the Dow Jones U.S. Select Dividend Index which closed at 584.85 for a gain of 6.81 points or 1.18 percent.