The Dax continued to rise on Friday after opening at record levels. At around 12:30 pm, the leading index was calculated at around 23,504 points, up 0.7% compared to the previous day’s closing level. At the top of the stock list were the shares of Siemens Energy, BMW and Merck, while those of Rheinmetall, MTU and Allianz were at the bottom.
“Despite all the uncertainties, the German stock index managed to reach a new record high of 23,529 points, crowning the already good trading week” said market analyst Andreas Lipkow. “In view of the fragile and risky topic landscape that is currently affecting financial markets, this is quite noteworthy. Investors are so focused on the hope of a positive resolution to the trade dispute with the US and the recovery of the German economy that they are overlooking other risks.” “It is interesting in this context that the price of gold remains above $3,300 and the crude oil prices do not reflect any strong signs of economic optimism.”
The European common currency, the Euro, was slightly stronger on Friday afternoon, with one Euro worth 1.1243 US dollars and consequently, one US dollar was worth 0.8894 Euros.
Meanwhile, the oil price saw a significant increase, with a barrel of North Sea crude Brent costing 63.97 US dollars by 12 pm on Friday, which was 1.8% more than the closing price of the previous trading day.