The Dax index continued its trend from the start of trading on Monday and remained in the green at midday. By 12:30, the leading index was calculated at around 23,045 points, representing a 0.3 percent increase from the closing value of the previous Friday.
“The current market environment is characterized by a trend of cautious buying, with a generally positive sentiment” said Andreas Lipkow, a stock analyst. “The overall market will be driven by a greater demand for shares from the automotive sector at the start of the week.” Indeed, the securities of the Porsche holding led the price list at midday, followed by Bayer and Volkswagen. Symrise, Adidas and Zalando, on the other hand, were at the lower end.
The European common currency was stronger at the early Monday afternoon: one euro was worth 1.0906 US dollars and one dollar was available for 0.9169 euros.
Meanwhile, the oil price rose significantly: a barrel of the North Sea’s Brent type cost around 71.42 US dollars at 12 o’clock German time, representing an 84-cent or 1.2 percent increase from the previous day’s closing price.