On Thursday, the Dax experienced an increase. At the Xetra closing, the index was calculated at 23,695.59 points, representing a 0.72% rise compared to the previous day’s closing.
At the top of the stock list, Rheinmetall shares were found with over a 5% increase, right behind Bayer and Deutsche Telekom. At the bottom of the list, Merck’s values dropped by over 6%, following BMW and Commerzbank.
“Considering that if the Dax were 1,000 points lower, today’s predominantly positive quarterly numbers would likely have led to a price surge” said market analyst Jochen Stanzl from CMC Markets on the current developments. “Instead, the reaction is more restrained. The pre-emptive laurels for this were distributed during the Dax’s rally of over 5,000 points from the low in early April. Investors seem to have slightly overestimated their hopes in the short term” said Stanzl.
“The recent contraction of New York’s factory activity – now in its third consecutive month – alongside a jump in material costs to a two-year high clearly shows how counterproductive Trump’s tariffs are” argued the expert. “Instead of protecting domestic businesses, they are restricting vital raw materials and pushing up procurement prices. The fact that this price increase in New York does not show up in national producer price data initially gives Wall Street investors some relief.”
The European community currency was slightly weaker on Thursday afternoon: One Euro was worth 1.1174 US dollars and one US dollar was equivalent to 0.8949 Euros.
The gold price was able to benefit significantly, with a premium of 3,215 US dollars per fine ounce in the afternoon (+1.2%). This corresponds to a price of 92.51 Euros per gram.
Meanwhile, the oil price experienced a significant drop: At 5:17 PM German time on Thursday, a barrel of North Sea Brent cost 64.33 US dollars, which was 176 cents or 2.7% less than the closing price of the previous trading day.