The German stock market opened the trading week with a positive trend, as the DAX index climbed to 23,748 points by the close of Xetra trading. This represented a gain of 0.2 percent compared to the previous day’s closing value.
Market analysts attribute the initial uptick to investor anticipation surrounding the Federal Reserve’s expected actions this week. “Market participants are largely expecting the US Federal Reserve to deliver what investors anticipate” stated Andreas Lipkow, a market analyst.
Trading activity was characterized by a focus on specific stocks, including Sartorius, Zalando, Infineon and Continental, in the absence of immediate broader market catalysts. Conversely, shares of SAP, Deutsche Telekom and Symrise experienced declines.
Analysts noted that a number of analyst opinions and rating adjustments significantly influenced the trading patterns for companies within the DAX 40 index.
The Euro strengthened against the US Dollar on Monday afternoon, exchanging at 1.1765 USD. Consequently, the dollar was valued at 0.8500 EUR.
Gold prices also benefited from the market sentiment, rising to $3,667 per fine ounce, a 0.7 percent increase, equivalent to €100.22 per gram.
Oil prices followed a similar upward trajectory. Brent crude, a North Sea variety, reached $67.42 a barrel as of approximately 5:00 PM CET, marking a 43-cent, or 0.6 percent increase compared to the previous day’s close.