The DAX index experienced a sustained upward trajectory on Monday, continuing its positive start to the trading day and climbing further by midday. Reaching approximately 23,710 points around 12:40, the benchmark index registered a gain of 1.2 percent compared to Friday’s closing level.
Zalando and Allianz were among the strongest performers, with Allianz recently completing the acquisition of Viridium alongside other insurance companies. Conversely, Bayer, Daimler Truck and Siemens Healthineers were among the underperformers, registering losses by the midpoint of the session.
Market analyst Andreas Lipkow attributed the positive trend to investor activity targeting lower valuation levels in established German equities. He specifically noted increased interest in shares of Rheinmetall, banking and financial institutions and more defensive stocks.
Investor sentiment regarding automotive companies remained cautious, however. The positive signal from the US pre-market trading helped to support European financial markets overall. “The prevailing mood remains positive for now” Lipkow commented, “but it also reflects certain doubts regarding the future economic trajectory in Europe.
The Euro weakened slightly against the US dollar on Monday afternoon, trading at $1.1558, equivalent to €0.8651 per dollar.
Meanwhile, oil prices saw a noticeable decline. Brent crude, a North Sea variety, was trading at $68.86 per barrel around midday German time – a decrease of 81 cents, or 1.2 percent, compared to the previous day’s closing price.