30 am, a 1.7 percent increase from the previous day’s close. Heidelberg Materials, Siemens and Sartorius led the gains, while E-On, RWE and Rheinmetall trailed behind.
Market analyst Andreas Lipkow attributed the optimism to the recent ceasefire in the Iran-Israel conflict, which has boosted investor confidence. “The potential for a lasting ceasefire is giving investors a more positive outlook on the global economic development” he said. Lipkow noted that 39 of the Dax 40 companies were on the gainers’ list, with the exception of defense stocks, which are less in demand and experiencing profit-taking.
Meanwhile, the euro strengthened against the US dollar, with one euro costing 1.1608 US dollars and one dollar worth 0.8615 euros. In the energy market, oil prices plummeted, with a barrel of Brent crude selling for 68.88 US dollars at 9 am German time, a 3.6 percent drop from the previous day’s close.