The German stock market opened positively on Thursday, maintaining a bullish trend through midday trading. The leading DAX index reached approximately 24,190 points around 12:30 PM, representing a gain of 0.8 percent compared to the previous day’s closing level.
Notable performance within the index was observed from Siemens, Siemens Energy and Mercedes-Benz, while Daimler Truck, Eon and Commerzbank concluded the session among the lowest performers.
“The DAX appears to be comfortably situated within the range of 24,000 to 24,250 points” remarked market expert Andreas Lipkow. He noted that current news is not significantly impacting market sentiment and participants are primarily awaiting key macroeconomic indicators including US employment data and import price figures.
Lipkow further elaborated that the ongoing quarterly earnings season is largely being overshadowed by ongoing trade negotiations. “The third-quarter results are providing limited actionable information and largely reinforcing existing trends. Overall, trading is characterized by relatively stable price movements.
The Euro weakened slightly during Thursday afternoon trading, with the exchange rate at 1.1588 US dollars, corresponding to 0.8630 Euros per dollar.
Meanwhile, oil prices saw an increase; Brent crude was trading at $68.76 per barrel at approximately 12:00 PM local time, a rise of 24 cents, or 0.4 percent, compared to the close of the previous trading day.