Frankfurt boom
Foreign and domestic investors scrambled to buy West German stocks yesterday, pushing the major index of leading shares to its highest level for nearly 23 years. Stock brokers said that several large West German institutional investors and investment funds were “panic buyers,” trying to jump on to this week’s share rally before prices rise further. The widely-watched 60share Commerzbank index (base 100, 1953) rose to 986.3 from 967.9, the highest level since September 10, 1960, and now approaching its alltime high of 1031.9, recorded just five days earlier in 1960. Thursday’s market was boosted by a late rally on Wall Street and firm share prices in London and Tokyo where record levels were touched earlier.
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Press, 9 July 1983, Page 21
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117Frankfurt boom Press, 9 July 1983, Page 21
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