The Dax index closed higher on Tuesday, with a new record high of approximately 22,883 points at 5:10 pm, a 0.2% increase from the previous day’s close. The index had initially dipped into the red in the morning, but later recovered to reach a new high.
“Optimism among investors seems to remain unbroken” commented Konstantin Oldenburger, a market analyst at CMC Markets. “Regardless of the rising inflation in the US, the looming tariffs from the White House against Europe, or the potential reshuffling of the global security architecture, investors are recognizing individual investment opportunities even in the risk factors.”
Professionals have become so optimistic that the bar balances of funds and wealth managers have reached their lowest level since 2010, according to the analyst. “It’s the complete opposite of October 2022, when the big technology rally began. Everyone seems convinced that there will be no global recession and the trade war is just a ‘residual risk’.”
The stocks of Daimler Truck, Commerzbank and Deutsche Bank were at the top of the price list, with Zalando’s shares at the bottom.
Meanwhile, the gas price rose: one megawatt-hour of gas for delivery in March cost 49 euros, a two percent increase from the previous day. This implies a minimum consumer price of around nine to twelve cents per kilowatt-hour, including additional costs and taxes, if the price level remains constant.
The oil price also rose: a barrel of North Sea Brent oil cost $75.59 at 5 pm German time, a 37-cent or 0.5% increase from the previous day’s close.
The European common currency was slightly weaker at 5 pm: one euro was worth $1.0464 and one dollar was worth $0.9557 in euros.