The Dax index continued its positive momentum on Thursday, with gains building throughout the morning. By 12:30 pm, the index had reached a value of approximately 21,714 points, a 0.4% increase from the previous trading day. The index briefly touched a new all-time high of around 21,724 points before settling at the close of the day. The top performers on the market included Siemens Energy and Deutsche Bank.
The central theme at the stock exchanges remains the breakthrough of the Chinese AI startup “Deep Seek”, which is reportedly achieving competitive results at relatively low costs. “The market is entering a new phase, in which even companies that initially struggled with the transition to AI and were initially seen as losers could become winners” commented Konstantin Oldenburger, a market analyst at CMC Markets. “Companies in the software sector that integrate AI into their products and solutions could benefit from this trend. In general, AI is no longer seen as a threat, but as an opportunity, which suggests a strategic shift” Oldenburger added. “At the end of the day, however, the market remains dynamic and established technology leaders like Nvidia are constantly re-evaluating their market position and potential and investors must remain vigilant.”
The European common currency was weaker on Thursday afternoon, with one euro equivalent to approximately 1.0393 US dollars and one US dollar equivalent to approximately 0.9622 euros.
Meanwhile, the oil price rose slightly, with a barrel of North Sea Brent crude valued at around 76.63 US dollars at 12 pm CET, a 5-cent or 0.1% increase from the previous trading day’s close.