In Germany, stocks followed the global market trend higher Tuesday. Germany’s DAX gained 64.95 points or 0.65 percent to close at 10,045.44. For the week the DAX is up 0.65 percent as fiscal policy measures regarding aid from the Eurozone for a Greek bailout continues to help boost stocks. Austerity measures for Greece include pension reform and higher taxes.
Source: Google Finance. DAX for Monday and Tuesday.
German factory orders were another factor helping lead German markets higher. Factory orders gained in March providing an upswing for the market and overall optimistic sentiment. March factory orders in Germany increased by 1.9 percent following a decrease of 0.8 percent in the previous month and orders were higher by 1.7 percent in comparison to the previous year.
Financial services providers saw a significant increase in valuations Tuesday. Standard Chartered was up by 2.9 percent and Barclays gained 2.6 percent as the large conglomerate banks helped boost financial services stock values broadly in Europe.
In Europe, stocks finished higher Tuesday and the market gained broadly. The FTSE 100 was higher, gaining 41.84 points or 0.68 percent to close at 6,156.65. Stocks were mainly higher helped by a narrowing trade deficit announced Tuesday. The day’s gains helped give back to mining stocks which posted some of the highest increases for the day.
In other European markets, France’s CAC 40 closed up 15.40 points for a gain of 0.36 percent at 4,338.21. Germany’s DAX was higher by 64.95 points or 0.65 percent at 10,045.44. The Stoxx Europe 600 closed at 336.24 for a gain of 3.02 points or 0.91 percent. The Europe Dow was up 14.89 points or 0.97 percent to close at 1,549.73
In Asia, Japan’s Nikkei 225 was up 349.16 points or 2.15 percent to 16,565.19. Hong Kong’s Hang Seng Index was up 85.87 points or 0.43 percent to 20,242.68. China’s Shanghai Composite gained 0.48 points or 0.02 percent to close at 2,832.59. The S&P BSE Sensex gained 83.67 points or 0.33 percent to close at 25,772.53. In Australia the S&P/ASX Index was up 22.10 points or 0.42 percent to close at 5,342.80.
U.S. market indexes were also all trading mostly higher on Tuesday. At mid-afternoon the Dow Jones Industrial Average was up 180.01 points or 1.02 percent to 17,885.92. The S&P 500 Index was up 19.79 points or 0.96 percent to close at 2,078.48. The Nasdaq Composite was up 44.06 points or 0.93 percent to 4,794.27. The S&P 400 Mid-Cap was on the uptrend at 1,465.70 for a gain of 12.58 points or 0.87 percent and the S&P Small-Cap was up 4.18 points or 0.61 percent to 692.05.