The Dax index continued its positive start to the trading week on Monday, extending gains throughout the morning session. Around midday, the leading index was calculated at approximately 23,810 points, registering a 0.3 percent increase compared to the previous day’s closing level.
Symrise, Infineon and Rheinmetall were among the top performers on the day. Conversely, shares of Commerzbank, Continental and Deutsche Bank experienced declines.
Market analyst Andreas Lipkow commented on the market’s behavior, stating that the German market is attempting to establish itself around the 23,800-point level. “The Dax is repeatedly testing the widely observed 100-day moving average” Lipkow noted, adding that the index has been fluctuating within a trading range defined by the 200-day and 100-day moving averages in recent sessions.
According to Lipkow, a significant catalyst is currently lacking to propel the broader market beyond this range. However, he observed that interest in German blue-chip stocks appears to be sustained heading into the quarter-end.
The euro strengthened slightly in the afternoon, trading at $1.1717, with one US dollar fetching €0.8535.
The price of gold saw a notable increase, reaching $3,815 per fine ounce (+1.5 percent) – equivalent to €104.69 per gram.
In contrast, the oil price experienced a substantial decrease; a barrel of Brent North Sea crude traded at $69.12, a drop of 101 cents or 1.4 percent compared to the previous trading day’s close.