Stock Market Index Continues to Climb
The Dax index continued its upward trend on Thursday, with a gain of 0.5 percent by 12:30 pm, reaching a value of approximately 22,550 points. Market expert Andreas Lipkow attributed the increase to investors taking advantage of the recent price drops in the Dax to stock up on positions. Infineon, Brenntag and Bayer were in high demand, with Infineon’s chip factory in Dresden receiving EU Commission approval for millions of euros in subsidies.
On the other hand, MTU and Mercedes-Benz saw their stock prices decline, following the release of their quarterly results and a morning preview of quarterly numbers, respectively. Lipkow noted that the market’s sentiment remained nervous, but investors were looking optimistically to the future. The prospect of a potential peace or ceasefire in Ukraine continues to benefit German companies, he added, as a new upswing in the economy could benefit the country’s businesses.
The euro, the European Union’s common currency, was slightly stronger on Thursday, with one euro equivalent to 1.0444 US dollars and one US dollar worth 0.9575 euros. The price of oil also rose, with a barrel of Brent crude oil costing approximately 76.31 US dollars at 12 pm local time, a 0.4 percent increase from the previous day’s close.