The German stock market benchmark, the DAX, maintained a positive trajectory throughout Tuesday’s trading session, holding above previous levels. By midday, the index stood at approximately 23,940 points, representing an increase of 0.8 percent compared to the previous day’s closing value. Infineon, Airbus and Siemens were among the leading gainers within the DAX. Conversely, FMC, Commerzbank and Continental experienced the largest losses during the morning.
Market analyst Andreas Lipkow attributes the DAX’s current performance to an ongoing industry rotation amongst investors. He notes a shift towards cyclical sectors and technology stocks, while banking shares and defensive holdings are being sold off.
Lipkow emphasized that this activity does not represent a fundamental change in market direction, but rather a consolidation typically observed during the summer trading period. He anticipates continued narrow-ranging price movements and does not foresee substantial price fluctuations in the near term.
The Euro weakened slightly against the US Dollar, trading at 1.1542 USD, equivalent to 0.8664 EUR per dollar this afternoon.
Adding to the mixed market sentiment, the price of Brent crude oil continued its downward trend, reaching 67.96 USD per barrel around midday, a decrease of 72 cents or 1 percent from the previous trading day’s close.