The DAX index continued its upward trend on Thursday, building on its earlier gains and extending its record-breaking run. By 12:30 pm, the index had been calculated at around 22,535 points, a 1.8 percent increase over the previous day’s close. Siemens, Volkswagen and BMW led the pack, with Deutsche Telekom, Qiagen and Beiersdorf at the bottom of the list.
“The market participants remain in a positive mood and the overall market is benefiting particularly from the significant gains of the DAX’s heavyweight, Siemens” said market expert Andreas Lipkow. The company had released its quarterly results on Thursday, prior to the market opening, which pleased the investors.
However, Lipkow noted that the DAX’s current level could already be considered “overbought.” Since the start of the year, the index has gained a good 12 percent in value, a performance it has not achieved in a single trading year in the past.