The Dax continued its upward trajectory on Thursday, building on a positive start to trade firmly in the green throughout the morning. By 12:30 PM, the index was calculated at approximately 23,645 points, representing an increase of 1.2 percent compared to the previous trading day.
Leading the performance were shares in Zalando, SAP and Sartorius, while Continental, Beiersdorf and Volkswagen experienced declines. The decrease in Continental’s share price is attributed to the spin-off of its automotive division, now operating as Aumovio and listed independently on the Frankfurt Stock Exchange. Aumovio will be temporarily included in the Dax for one trading day.
Market analyst Andreas Lipkow commented on the day’s activity, stating that investors are demonstrating relief following the recent US interest rate decision and the Federal Reserve’s future outlook. A renewed focus on technology stocks was evident, alongside cautious buying activity in the financial and insurance sectors.
Lipkow cautioned that the Dax’s ability to sustainably advance towards the 24,000-point mark remains to be seen, noting that further market-moving events, including the release of key macroeconomic data, are anticipated.
The Euro strengthened slightly during Thursday midday, trading at $1.1833, equivalent to $0.8451 per Euro.
Simultaneously, the price of Brent crude oil decreased, reaching $67.45 per barrel around noon German time – a reduction of 50 cents or 0.7 percent compared to the closing price of the previous trading day.