The German stock index, the DAX, experienced a positive session on Tuesday, closing at 23,611 points. This represented a gain of 0.4% compared to the previous day’s closing value. The index initially built on early gains in the morning following a favorable start, though a partial retracement of those gains occurred during midday trading. The afternoon saw a renewed upward trend.
Positive momentum originated from the United States, where the Nasdaq and S&P 500 reached record highs on Monday. Market participants are now keenly awaiting a speech by Jerome Powell, the chair of the U.S. Federal Reserve, anticipating signals regarding potential future interest rate adjustments following last week’s rate cut.
Throughout the trading day, shares of Volkswagen and Adidas led the performance, while Henkel shares lagged behind.
Oil prices saw a significant increase, with a barrel of Brent crude reaching $68.04 at approximately 5:00 PM local time, a rise of 2.2% from the previous day’s closing price.
The euro weakened slightly during the afternoon, trading at $1.1790, with the dollar fetching €0.8482.