Why Siemens Stock Crushed It on Wednesday
One of the more impressive stock price pops on Wednesday belonged to a somewhat under-the-radar company for American investors, (OTC: SIEGY). The European industrial conglomerate's shares closed the day more than 8% higher on news of a potentially significant new infrastructure program in Germany. That gain compared very favorably to the S 500's (SNPINDEX: ^GSPC) 1.2% rise.
In the wake of elections in Germany, the European Union's largest economy in terms of gross domestic product (GDP), political deals are being cut among potential governing coalition partners.
Late Tuesday, the likely chancellor of the country, Friedrich Merz, and other top politicians announced several potential top-down economic measures that will be introduced once they sweep into power. A major one is the easing of the country's so-called "debt brake"; as the name implies, this is a set of limits on how much the federal government can borrow.
Source Fool.com
