The German DAX index continued its positive trajectory on Monday, maintaining gains throughout the morning following a promising start to the trading day. By 12:30 PM local time, the benchmark index reached approximately 23,765 points, representing a 0.7 percent increase compared to the closing level on Friday.
Leading the performance were Commerzbank, Adidas and Heidelberg Materials, followed by Daimler Truck, Hannover Rück and Porsche.
According to market expert Andreas Lipkow, current market sentiment remains positive, influenced by recent German economic data. There is a growing hope for stabilization at the existing level of economic performance. “It appears a trough is forming, potentially paving the way for a sustainable economic recovery in the coming years” Lipkow stated.
However, Lipkow cautioned that a period of observation is advisable in anticipation of upcoming monetary policy decisions by central banks in Europe and the United States. “Investors generally prefer to remain on the sidelines during these major policy events, while still making selective adjustments to their positions in DAX 40 companies.
The Euro strengthened slightly during midday trading, reaching a value of 1.1725 US dollars, with one US dollar worth 0.8529 Euros.
Oil prices also saw a significant increase, with a barrel of North Sea Brent crude costing 66.79 US dollars around noon, a 2.0 percent rise compared to the previous trading day’s closing price.