The Dax index reached a new all-time high on Thursday, closing at 21,902 points, a 1.5% increase from the previous day’s close. The index briefly touched 21,921, the highest level ever recorded, just a few seconds before the close of trading.
“After a previous week that saw a shock of over 700 points, followed by a rally, investors can now enjoy a gain of over 800 points and a new all-time high” commented Konstantin Oldenburger, a market analyst at CMC Markets. “However, they should not forget the previous week, when news of new US tariffs on Mexico and Canada initially sent the Wall Street into a tailspin and later expanded to include China, leading to a market downturn in Frankfurt on the following Monday.”
Papers from BASF, Infineon, Siemens and Heidelberg Materials were among the top gainers, with some stocks experiencing increases of over 3%. In contrast, shares of Rheinmetall, Qiagen, RWE and Sartorius were among the biggest losers, with some experiencing declines of over 5%.
The euro was weaker against the US dollar on Thursday afternoon, with one euro trading at 1.0371 US dollars and one US dollar worth 0.9642 euros.
Gold prices, which had seen a record rally in recent days and weeks, showed some weakness on Thursday, with one ounce of gold trading at 2,852 US dollars, a decline of 0.5% from the previous day. This is equivalent to a price of 88.42 euros per gram.
Oil prices, on the other hand, continued to rise, with a barrel of Brent crude trading at 74.77 US dollars at 5 pm CET, a 0.2% increase from the previous day’s close.