The Dax index returned to its closing level of Friday by midday on Monday, after a relatively subdued start to the trading week. By around 12:30 pm, the leading index was calculated at approximately 20,906 points, with a slight increase of a few points. At the top of the stock list, Commerzbank and Airbus papers led the way, while Siemens Energy shares found themselves at the bottom.
“Market participants are trying to make the best of the newsless time” commented market analyst Andreas Lipkow. “Today, the focus is again on bank stocks, Airbus, Adidas, and Münchener Rück. Investors are increasingly focusing on the defensive sectors to remain invested in the Dax and reduce risk at the same time.”
Meanwhile, the European common currency was stronger: one euro was worth approximately 1.0323 US dollars by Monday afternoon, with a dollar equivalent to 0.9687 euros.
The oil price, however, fell: a barrel of North Sea Brent crude cost around 80.44 US dollars by Monday afternoon, 35 cents or 0.4% less than the previous trading day’s close.