German industrial giants lift Dax higher

German industrial giants lift Dax higher

German equity markets experienced gains on Thursday, with the DAX closing at 23,770 points – a 07 percent increase from the previous day’s close Following a positive opening, the index consolidated its advances throughout the afternoon despite some market volatility

Positive economic data released in the United States contributed to the upward momentum Initial jobless claims in the US were slightly higher than anticipated last week, leading investors to speculate that the Federal Reserve may accelerate plans to lower interest rates Such a move would reduce borrowing costs for businesses and potentially stimulate investment

Within the DAX, shares of Siemens Energy and Heidelberg Materials led the gainers, while MTU and Sartorius registered the steepest declines

Commodity markets presented a mixed picture Natural gas prices increased, with a megawatt-hour (MWh) for October delivery trading at 32 euros – a 1 percent rise Sustained at this level, this translates to a consumer price of roughly eight to ten cents per kilowatt-hour (kWh) including associated taxes and fees

Conversely, oil prices decreased Brent crude futures were trading at 6707 US dollars per barrel in the late afternoon, down 08 percent from the previous session’s close

On the currency markets, the Euro weakened slightly, trading at 11645 US dollars, while the US dollar was valued at 08587 Euros