- January 26, 2021
- Posted by: Stratford Team
- Category: Markets
(RTTNews) – German stocks rose on Tuesday despite escalation of U.S.-China tensions in the South China Sea, continued political uncertainty in Italy and doubts over the speed and size of U.S. stimulus.
The benchmark DAX was up 107 points, or 0.8 percent, at 13,751 after losing 1.7 percent the previous day.
China announced today it would conduct military exercises in the South China Sea this week, just days after Beijing bristled at a U.S. aircraft carrier group’s entry into the disputed waters.
Meanwhile, index provider MSCI Inc said it will remove five Chinese firms from its global index as of the close on Jan. 27 in the absence of an update on a Trump administration order banning Americans from investing in certain Chinese companies.
Italian Prime Minister Conte is set to resign today and try to form a new coalition government ahead of a key vote on judicial reforms later this week, which commentators suggest the government was on course to lose.