DAX 30 Closes at New 2-Week High
The DAX 30 ended up 0.2% at a new two-week high of 14,040 on Tuesday, while other European bourses closed mixed, as bond yields continued to retreat following last week's rally. Meanwhile, investors worried about bubbles in global markets and weak economic data from Germany. Guo Shuqing, chair of the China Banking and Insurance Regulatory Commission, said that financial markets in Europe, the US and other developed countries were trading at high levels, and that they had “seriously diverged” from the real economy. On the economic data front, German retail sales tumbled 4.5% in January, following a record 9.1% plunge in December and compared with market expectations of a 0.3% fall. The monthly jobless report for February showed an increase of 9 thousand in unemployed people, compared with forecasts of a 13 thousand decline. Elsewhere, Germany plans to extend its coronavirus lockdown until March 28 while easing some restrictions from next week, according to media reports.
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