The Dax Index closed on Thursday with a slight gain. At the Xetra trading close, the index was calculated at 21,411.53 points, a 0.74% increase from the previous day’s close.
“Not a few investors are hoping for a consolidation to avoid buying the top if they enter now” commented market analyst Konstantin Oldenburger from CMC Markets on the current developments. “The Dax has risen too quickly, and the German economy is still weak, with the new US President Trump’s tariffs on ‘Made in Germany’ products only a matter of time” Oldenburger added.
“On the other hand, the prospects for a successful and good reporting season are not bad for both the US and Dax companies. The large Wall Street banks, which have presented their results at the start of the reporting season, have reported with double-digit percentage growth in investment banking” the expert said.
At the top of the Dax stock list, Siemens Energy shares were found with a gain of over six percent, followed by Fresenius Medical Care and Zalando. In contrast to the trend, there were share price declines at the end of the list, with Qiagen’s shares down by over two percent, followed by BMW and Infineon.
The European common currency was slightly weaker on Thursday afternoon: one euro cost 1.0398 US dollars, and one dollar was worth 0.9617 euros.
The gold price showed a slight decline, with a fine ounce selling for 2,750 US dollars (-0.2%) or 85.04 euros per gram.
Meanwhile, the oil price fell: a barrel of North Sea Brent cost 78.36 US dollars at around 5 pm German time, a decrease of 64 cents or 0.8% from the previous day’s close.