The Dax index closed on Thursday with a gain. At the Xetra market close, the index was calculated at 20,655 points, a 0.4 percent increase from the previous day’s close. The top performers on the stock list were Zalando, Rheinmetall, and Hannover Rück, followed by Siemens Energy, Daimler Truck, and Mercedes-Benz at the end.
The Dax managed to maintain its record level, with investor sentiment remaining positive despite mixed US economic data. “The US labor market data came in slightly weaker than expected, with 217,000 new job applications, only slightly above the expected 210,000” said market expert Andreas Lipkow. US retail sales also fell short of expectations, with a 0.4 percent increase, below the predicted 0.6 percent. Import prices, on the other hand, rose by 0.1 percent, exceeding the expected decline of 0.1 percent. The Philly Fed Index, however, surged to 44.3, well above the expected decline of 5.2.
“This shows the current situation in the US is somewhat softened, but it is still driven by confidence in the future economic development” Lipkow said. The earnings season also continued to show a positive side, with Bank of America and Morgan Stanley reporting their quarterly results.
The European common currency was slightly stronger in the afternoon: one euro was worth 1.0305 US dollars, and one dollar was worth 0.9704 euros.
Oil prices, on the other hand, fell significantly: a barrel of Brent crude cost around 80.75 US dollars at 5 pm German time, a decrease of 128 cents or 1.6 percent from the previous day’s close.