German bourse thrives as Washington, Beijing suspend tariffs, lowering rate

BERLIN, May 12 (KUNA) -- The Frankfurt Stock Exchange's DAX and MDAX benchmarks thrived during Monday trading on the backdrop of of a American-Chinese agreement to suspend tariffs for 90 days and lowering their rates.
The DAX index, which has 40 German companies trading, went up by 1.54 percent to reach 23861 points, while the MDAX went up by 1.10 percent to reach 30056 points.
The Washington and Beijing announcement was met enthusiastically by markets globally after the US announced back in April new tariffs on products coming from China. (end) anj.gta