The Dax index maintained a slightly positive trend throughout the day, with a mid-day calculation of around 20,607 points, representing a 0.2% increase from the previous trading day. Zalando’s shares led the pack, while Siemens Energy’s shares lagged behind.
“Market participants continue to stay engaged, buying into German stocks” commented market analyst Andreas Lipkow. “Zalando’s impressive quarterly numbers have caught the attention of investors, who are also showing interest in Rheinmetall, Porsche, and Commerzbank.”
The trading landscape bears a strong resemblance to the previous day’s, Lipkow noted. “Investors are focusing on the underperformers of the past and creating a broad-based market gain in the process. The market’s direction is forward-looking, with a focus on potential economic recovery” he said. “Cyclical sectors are currently benefiting from this trend.”
The European common currency, the euro, was slightly weaker in the afternoon, trading at 1.0288 US dollars per euro, with the dollar valued at 0.9720 euros. Meanwhile, the oil price dipped, with a barrel of Brent crude selling for 81.58 US dollars at around 12 pm CET, a 0.6% or 45-cent decrease from the previous day’s close.