The Dax index had a friendly start on Monday, but then significantly dropped by midday. By 12:30 pm, the index was calculated at around 20,145 points, which is a 1.2% increase compared to the previous trading day. The top of the price list was occupied by Daimler Truck, Infineon, and Sartorius, while Vonovia, Symrise, and Beiersdorf were at the end.
“The European purchasing manager indices came in a bit better than expected” said market expert Andreas Lipkow, which also followed the indications from China. “However, it’s not enough to trigger a jubilant storm among market participants.” The Sentix business expectations remained weak for the EU. “Now, investors are focusing more on the upcoming consumer prices in Germany.”
“Market players will remain cautious at the start of the week and be very selective” said Lipkow. The focus is on technology titles and cyclical sectors at the start of the week, while defensive sectors were less in demand on Monday. “The trading volume remains under average and reflects the cautious approach.”
The European common currency was significantly stronger on Monday morning: one euro cost 1.0415 US dollars (+1.10%), and one dollar was worth 0.9602 euros.
Meanwhile, the oil price rose slightly: a barrel of Brent North Sea oil cost around $76.57 by 12 pm German time, which is 6 cents or 0.1% more than at the end of the previous trading day.