30 a..m. German time-roughly 1.9 % above the previous day’s close. The biggest gains came from Siemens Energy, Infineon, and Siemens, while the worst performers were Deutsche Telekom, Brenntag, and the Deutsche Börse.
A central theme on the trading floor remained the war in the Middle East. “The United States has presented a peace plan, and Iran has countered with sweeping demands” said Thomas Altmann of QC Partners. “Very tough negotiations may follow, and it is still completely open whether they will succeed, or at least lead to a cease‑fire”. He added that although hopes for peace are growing, such optimism is still a long way off in the market. The falling oil price is lifting risk assets like equities, yet volatility is expected to stay high, and new downside risks can appear with every new U.S. or Iranian development.
The euro was slightly weaker that morning, trading at 1.1614 U.S. dollars per euro and 0.8610 euros per U.S. dollar. Meanwhile, the price of Brent crude fell to $98.49 per barrel at about 9 a.m., a drop of $6.00-or 5.7 %-from the previous day’s close.