30 AM.. This represents a modest gain of 0.1 percent above Friday’s closing level. Leading the gains were Zalando, Infineon and Sartorius, while Deutsche Bank, Bayer and Merck experienced declines.
“The market sentiment is currently reminiscent of clear skies” noted Thomas Altmann of QC Partners, referencing the prevailing positive trend. This optimism follows record highs achieved by the S&P 500 and Nasdaq 100 on Friday, a development largely supported by a weaker US dollar, which makes American equities more appealing to international investors.
Altmann further commented that the overarching news environment remains favorable, with potential progress emerging in trade negotiations. Both the US and Canada are believed to be moving closer to a trade agreement and positive signals are also emanating from relations between the European Union and the United States. Furthermore, details associated with Donald Trump’s proposed economic plan are becoming more defined.
While market participants are currently celebrating these positive developments, Altmann cautioned that market conditions are cyclical. “Like the weather, there will always be dips” he remarked, suggesting that the current environment is pricing in an extremely positive outlook. Consequently, even relatively minor negative economic news could swiftly alter market sentiment.
The release of preliminary inflation data for June, due from the Federal Statistical Office at 2 PM local time, will be a key economic indicator to watch throughout the day.
The Euro strengthened slightly against the US Dollar, trading at $1.1736, while the dollar was valued at €0.8521.
Meanwhile, oil prices saw a slight decrease, with a barrel of Brent North Sea crude trading at $67.65, a drop of 12 cents or 0.2 percent less than the previous day’s closing price.