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Financial markets see significant recovery in second half of year

Despite the notable economic recovery, stock markets remained sluggish at the start of 2010. The Greek debt crisis that emerged in the first quarter served to dampen sentiment and the DAX fell to its annual low of 5,434. The markets did not return to optimism until government leaders of the euro zone provided assurance that they would support Greece with bilateral credit lines. State economic incentives and an expansive monetary policy also helped to push the DAX back up. At the middle of the year, fears of a new recession set in and the stock markets responded with uncertainty. Even though many companies presented better half-year results than expected, the sidewards trend in the markets continued until the beginning of September, when share prices began rising again. The German economy benefited from the global growth, due particularly to the German export industry. By the end of 2010, the DAX had increased 16.1% year-on-year to 6,914 points. The EURO STOXX 50 fell 5.8% over the course of the year, reflecting the differing trends in the euro zone. By contrast, the Dow Jones improved by 11.0%.