The DAX widened its gains on Thursday after a steady start through midday. At about 12:30 p.m. German time, the benchmark index stood near 24,194 points, a 1.4 % rise above the previous day’s close. Siemens topped the list of movers, followed by Commerzbank and Deutsche Telekom, while RWE, Mercedes‑Benz, Heidelberg Materials and Symrise were at the bottom.
CMC Markets’ chief market analyst Andreas Lipkow said, “Today the DAX will be particularly buoyed by the new index weight, Siemens. The industrial group has surpassed SAP in the quarterly figures and is once again the number one component of the German benchmark. The skepticism that had prevailed earlier about operational developments has been smashed today”. He added that the overall market remains uncertain whether the upcoming U.S. jobs data will continue to underpin optimism, noting that a recent cooling in the U.S. housing market could re‑emerge today.
The euro edged up in the afternoon: one euro traded for 1.1883 U.S. dollars, meaning one dollar was worth 0.8415 euros.
Meanwhile, oil prices slipped. Brent crude, the North Sea benchmark, was quoted at $69.18 per barrel at around 12:00 p.m. German time – 22 cents, or 0.3 %, below the previous day’s close.