European markets opened positively Thursday, with the DAX index demonstrating a strong start to the trading day. By 9:30 AM, the leading index was calculated at approximately 24,405 points, representing a 0.6% increase compared to the previous day’s closing level. Heidelberg Materials, SAP and Siemens Energy were among the top performers, while Airbus, Siemens Healthineers and Adidas registered at the lower end of the rankings.
Analysts attribute the market’s positive momentum to the overnight dip in US Federal Reserve rates and particularly to robust earnings reports released by Meta and Microsoft, which have boosted investor confidence. The positive sentiment on Wall Street also contributed to the DAX’s upward trajectory, bringing the index closer to potential record highs.
However, concerns linger regarding China’s economic performance. According to analysts, a surprising decline in the Purchasing Managers’ Index (PMI) for the country’s crucial industrial sector signals ongoing challenges within the Chinese economy, moving further away from the expansion threshold of 50.
The Euro strengthened against the US dollar, trading at $1.1451, with a dollar correspondingly valued at €0.8733.
Meanwhile, oil prices experienced a slight decrease. Brent crude, a benchmark for North Sea crude, was priced at $73.20 per barrel around 9:00 AM German time, a decline of 4 cents or 0.1% compared to the previous trading day’s closing price.