In a mixed bag of economic data from the United States, the German stock market index, the Dax, showed a moderate gain on Thursday, closing at 23,649 points, a 0.6 percent increase from the previous day’s close.
Leading the gains were shares of Rheinmetall, Qiagen and Airbus, while Adidas, Volkswagen and Mercedes-Benz finished the day among the top performers.
Market expert Andreas Lipkow attributed the gains to a stronger-than-expected US gross domestic product and the impact of the trade tensions on the market. He noted that the data from the US, including the Chicago Fed Index, which came in below expectations, indicated a stagnant economy in the country.
Meanwhile, the euro strengthened against the US dollar, with one euro purchasing 1.1701 US dollars and one US dollar buying 0.8546 euros, as of the afternoon on Thursday.
Oil prices also rose, with a barrel of Brent crude increasing by 1.6 percent to 68.78 US dollars per barrel, as of 5 pm German time.