The Dax index remained strongly positive following a favorable trading start on Ascension Day. As of 12:30 PM, the leading index was at approximately 24,460 points, marking a gain of 1.3% from the previous day’s closing level. Market analyst Andreas Lipkow highlighted that the focus is on technology stocks and cyclical sectors such as chemicals and automotive. Despite these specific sectors being watched, the overall market activity is characteristic of a German holiday trading day, marked by low trading volume. Investors appeared relieved that the diplomatic meeting between the US and China avoided major disruptions, though the topic of Taiwan remains a point of contention for both sides. Within the Dax, clear gainers included Infineon, SAP, and VW.
Regarding international markets, Lipkow added that the FTSE 100 is also showing solid performance. In the UK index, attention settled on insurance companies, spurred by the release of results from the insurance group Aviva. Burberry’s shares are also monitored following its latest quarterly report. While the figures edged out expectations, market participants are utilizing this moment for profit-taking. Similarly, profit-taking was observed among mining giants like Glencore and Rio Tinto.
In currency terms, the Euro was slightly weaker on Thursday afternoon; the exchange rate reached 1.1710 US dollars per Euro, meaning the US dollar traded at 0.8540 Euros.
For commodities, the price of gold saw a modest rise, reaching $4,697 for a fine troy ounce by afternoon trading hours (+0.2%), which translates to €128.96 per gram. Meanwhile, oil prices slipped slightly; a barrel of North Sea Brent crude cost $105.60 around 12 PM German time, a decrease of 6 cents, or 0.1%, compared to the prior close.