The blue-chip Dax in Germany reaches a 1-year record!

In Germany, the stock market index Dax increased by 0.5% to 11,035.76 points.  This set a record for this year for being the highest in Germany and leading the other European indices to increase.   This boosted confidence in European traders as the European Central Bank (ECB) is now expected to extend its huge monetary stimulus.

The Asian markets also prolonged gains previously.  This change was affected after another record with Japan’s Soft Bank.

Kathleen Brooks, the City Index research director told the news, “It is likely that the ECB will deliver on the markets’ expectations, and extend its QE program. The calm market reaction to Italy’s NO vote in last weekend’s referendum should ease the pressure on the ECB.”

She also explained how she was confident that the ECB will continue to invest big money under its asset buying program.  The ECB pumps a striking 80 billion euro a month.

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