The German DAX index continued its upward trajectory on Tuesday, building on a positive start to maintain gains throughout the morning session. By 12:30 PM local time, the index was recorded at approximately 23,585 points, representing a 0.2 percent increase compared to the previous trading day.
Among the top performers were Infineon, Adidas and Volkswagen, while Rheinmetall, Commerzbank and Heidelberg Materials concluded the session towards the lower end of the rankings.
Market analyst Andreas Lipkow attributed the continued investor focus on technology stocks, particularly software and semiconductor companies, to developments originating in the United States. He noted the significant investments being made to advance artificial intelligence (AI) initiatives, suggesting a developing “technological arms race” between the US and China.
“The key will be which entity can secure the most capital and build the strongest infrastructure over the coming years” Lipkow stated, suggesting that several European technology companies, including Infineon, SAP and ASML, could benefit from this dynamic through secondary and tertiary effects.
The Euro weakened slightly against the US dollar, trading at $1.1799, equivalent to €0.8475 per dollar.
Crude oil prices also experienced an increase, with a barrel of Brent North Sea crude costing $66.86 at noon, representing a 29-cent or 0.4 percent rise from the end of the previous trading day.