The German DAX index experienced a mixed performance Thursday, initially building on a positive start to trading but subsequently relinquishing some gains by midday. Despite this slight pullback, the index remained firmly within record-high territory. At approximately 12:30 PM local time, the benchmark index was calculated at around 24,585 points, representing a marginal 0.1 percent increase compared to the previous day’s closing level.
Leading the gains were shares in Porsche, Merck and Brenntag, while Commerzbank, Siemens Energy and Rheinmetall concluded the session among the underperformers.
Market analyst Andreas Lipkow attributed the index’s upward trend to a “skepticism” among many market participants in recent trading sessions. He noted that increasingly popular passive investment vehicles were significantly contributing to the rally, consistently deploying client funds into financial markets without selective analysis.
“As long as the influx of capital persists, the upward momentum is likely to continue” Lipkow stated. He cautioned, however, that the situation could change if trade tariff issues escalate and impact European financial markets. While representatives from the European Union currently anticipate a favorable resolution with the United States, recent months have demonstrated the potential for unexpected developments.
The euro strengthened slightly during Thursday afternoon, trading at $1.1729, with a US dollar fetching €0.8526.
Conversely, oil prices declined. Brent crude, a benchmark for North Sea crude, was trading at $69.91 per barrel around noon, down 28 cents, or 0.4 percent, compared to the previous trading day’s close.