German Stock Market Continues to Climb, Analysts Optimistic
The German stock market, as measured by the Dax, maintained its upward momentum throughout the day, with a mid-day reading of approximately 24,045 points, a 0.2% increase over the previous day’s close.
Market analysts, such as Andreas Lipkow, are astonished by the index’s steady climb, with no signs of consolidation in sight. “It’s remarkable to see the German stock index moving from one record high to the next without a pause” Lipkow noted. He highlighted Bayer and Siemens Energy as potential investment opportunities, as the former may benefit from a potential EU approval of a new drug and the latter continues to see its stock price rise.
The sentiment surrounding German stocks remains overwhelmingly positive, attracting new investors, although trading volumes remain relatively low. In contrast, the US pre-market indicates a flat opening, according to Lipkow.
The euro, the common currency of the European Union, strengthened against the US dollar, with one euro equivalent to approximately 1.1352 US dollars and one US dollar valued at around 0.8809 euros.