30 a..m., 1.2 % above the previous close. Siemens Energy, Daimler Truck and Siemens led the winners list, while Merck, Zalando and Scout24 finished at the bottom.
Consorsbank’s chief market analyst, Jochen Stanzl, said that investors were brushing off the short‑term sell‑off in gold and silver. “The fall in precious metals is not continuing, so the risk of forced sales suddenly feels less threatening” he explained. “After a 700‑point rally, the DAX is back near the 25,000‑point mark, and the sharp drop in oil prices provides additional support”.
Stanzl added that DAX investors might be looking favorably toward a U.S. Fed run by Kevin Warsh. “A smaller Fed balance sheet under Warsh would force markets to focus more on quality, cash flows and solid capital structures, rather than blindly chasing growth optimism” he said. “Value stocks and the DAX could benefit from this fundamental shift”. He noted that Warsh is only nominated at present but that markets are already pricing in the potential change over the next three to six months.
The euro strengthened early in the session: 1 USD = 0.8465 EUR, which means €1 = 1.1813 USD.
Brent crude fell as well. At 9 a.m. German time, a barrel of North Sea Brent was $66.09, 21 cents (0.3 %) lower than the previous day’s close.