European Stock Markets Maintain Positive Trend on Ascension Day
The DAX index, a benchmark for the German stock market, continued its upward trajectory on Ascension Day, with a slight dip in the afternoon. By midday, the index had reached around 24,110 points, a 0.3% increase from the previous day’s closing value.
Adidas, Infineon and Daimler Truck led the list of top performers, while Vonovia, Zalando and Heidelberg Materials lagged, with Vonovia’s shares affected by a dividend adjustment.
The ongoing trade tensions and the recent court ruling on US tariffs, which deemed the tariffs as largely unlawful, remain a dominant theme in the market. “The drama has subsided a bit and the states can now wait and see” said market expert Andreas Lipkow. “Now, it’s a matter of whether investors still have the appetite to invest in European stocks.”
The euro, the European Union’s common currency, was slightly weaker against the US dollar, trading at 1.1287 dollars per euro at midday. The US dollar, in turn, was worth 0.8860 euros.
Meanwhile, the price of Brent crude oil, a global benchmark, surged, reaching 65.71 US dollars per barrel at 12 pm CET, a 1.3% increase from the previous day’s close.