The DAX accelerated its recovery from the market open until noon. By 12:30 p.m. it stood at 24,180 points, 1.6 % above the close of the previous trading day. Infineon, Daimler Truck and Rheinmetall topped the list of gains, while Adidas, Bayer and Symrise lagged at the bottom.
Chief market analyst at CMC Markets, Andreas Lipkow, said investors are showing renewed confidence and seem to be following the “buy when the cannons thunder” mantra. “That may come a little early, however” he warned, noting that the Middle East remains highly uncertain and the asymmetrical warfare among involved parties continues to raise doubts. This cautious stance causes investors to divest quickly from firms they fear may not meet expectations. The dip in shares of Adidas and Continental illustrates this; rather than waiting, traders are hitting the sell button immediately. Lipkow added that this reactive behaviour is likely to persist in European markets, where risk tolerance is currently low and systemic risks loom large.
At mid‑day the euro was stronger: one euro bought 1.1648 U.S. dollars, which means one dollar was worth 0.8585 euros.
Brent crude meanwhile saw a sharp rise. At 12:00 p.m. Central European Time, a barrel of the North Sea Brent traded at $82.71, up 1.6 % from the prior close.