The DAX index experienced a muted start to the trading week, closing marginally higher on Monday. At the conclusion of Xetra trading, the index stood at 24,307 points, representing a 0.1% increase compared to the previous day’s close.
Market analyst Andreas Lipkow described the initial trading activity within the DAX as “lackluster” noting that investors displayed caution and remained largely on the sidelines. Concerns surrounding ongoing trade negotiations between the European Union and the United States have not yet triggered a significant market reaction.
“Time is running out and the US has already demonstrated a reluctance to concede” Lipkow commented. He anticipates potential volatility in European stock markets towards the end of July, although the issue currently appears to be somewhat underestimated by market participants. This sentiment could swiftly change in the coming trading days.
The euro strengthened during Monday afternoon, trading at $1.1711, which translates to €0.8539 per US dollar.
Gold prices saw a notable increase, reaching $3,398 per fine ounce in the afternoon, a 1.4% rise. This equates to €93.28 per gram.
In contrast, oil prices dipped. Brent crude, a benchmark for North Sea oil, was trading at $68.95 per barrel around 5:00 PM German time, a decrease of 33 cents or 0.5% compared to the previous day’s closing price.