The German stock market benchmark, the DAX, continued its upward trajectory Thursday following a positive start to the trading day, reaching a level of approximately 24,410 points by midday. This represents a gain of 1.2 percent compared to the previous day’s closing value.
Market analysts attribute the recent performance to renewed optimism surrounding potential interest rate cuts in the United States, injecting fresh impetus into the equity markets. This sentiment is particularly evident in the strong performance of stocks linked to Artificial Intelligence (AI) activities. Siemens Energy and construction firm Hochtief have seen increased investor interest, alongside gains for Siemens and Infineon.
Conversely, companies within traditionally defensive sectors, including Eon, RWE and Merck, experienced less demand and are currently registering losses. This signals a broader shift towards a “risk-on” investment approach. Despite continued interest in gold, analysts observe a growing sense of euphoria across European stock markets.
The Euro also strengthened during Thursday afternoon, trading at $1.1748, with the dollar fetching €0.8512.