On Thursday, the Dax continued to rise after a friendly start earlier in the day. By around 12:30 pm, the index was calculated at around 23,390 points, representing a gain of 1.2% compared to the previous trading day. At the top of the price list were Infineon, Heidelberg Materials and Siemens Energy, while Henkel, Hannover Rück and Mercedes-Benz were at the bottom.
According to market analyst Andreas Lipkow, “the Dax is holding just below its previous record levels and waiting for new trading impulses. These could come as early as tomorrow in the form of news regarding the trade conflict between the US and China through news channels.”
It remains to be seen whether the seasonal weight will also affect the stock market this year. “Many investors may be tempted to stay on the sidelines during the summer months” said the analyst. “No significant and lasting impulses are expected during this time.”
Meanwhile, the European common currency was slightly weaker on Thursday afternoon: One Euro cost 1.1293 US Dollars and one US Dollar was therefore equivalent to 0.8855 Euros.
The oil price also rose significantly on Thursday afternoon, with a barrel of North Sea Brent costing around 61.95 US Dollars at around 12 pm German time, which was 83 cents or 1.4% more than the closing price of the previous trading day.