The Dax index held steady on Thursday, with a slight positive start giving way to a small gain by midday. By 12:30 pm, the index was calculated at around 21,319 points, a 0.3 percent increase from the previous trading day. Fresenius Medical Care’s shares led the charge, while those of Mercedes-Benz, Daimler Truck, Porsche, and Qiagen lagged behind.
The Dax has shown remarkable resilience, according to Jochen Stanzl, chief market analyst at CMC Markets. “The Fed’s rate hike could be brought forward, yields have surged, and growth is not picking up pace. As long as the fundamental data of the companies remain in order, it seems that all of this won’t be able to harm the rally” Stanzl said. “The stock market indicators remain green, and the US indexes are even attempting to break new records. The Wall Street is sending an additional pull, which the Dax cannot resist.”
The European common currency was little changed on Thursday afternoon, with one euro equivalent to 1.0410 US dollars, and one dollar worth 0.9606 euros.
Oil prices, meanwhile, rose: a barrel of North Sea Brent crude cost around 79.22 US dollars at 12 pm German time, a 22-cent or 0.3 percent increase from the previous trading day’s close.