The German stock market opened positively on Monday, maintaining gains throughout the morning trading session. By midday, the leading DAX index stood at approximately 23,785 points, representing a 0.4% increase compared to the previous day’s closing level.
Notable performance within the index saw Continental, Rheinmetall and Airbus leading the gains, while SAP, Volkswagen and SAP showed comparatively weaker results.
Market analyst Andreas Lipkow commented on a generally optimistic outlook for German equities at the beginning of the week. He specifically highlighted the strong demand for defense stocks, a trend potentially driven by ongoing geopolitical uncertainties.
Speculation surrounding continued liquidity support from central banks is contributing to the positive market sentiment. Beyond expectations of interest rate cuts in the United States, discussions are emerging regarding potential adjustments to interest rates by the People’s Bank of China.
The euro strengthened against the US dollar, trading at $1.1761, equivalent to €0.8503 per dollar.
Crude oil prices also rose, with a barrel of North Sea Brent crude fetching $67.18, a rise of 19 cents or 0.3% compared to the previous day’s closing price.