The Dax opened with slight gains in trading on Monday. By 9:30 a.m., the leading index was calculated at around 20,405 points, 0.1% above the closing level of the previous Friday. At the top of the stock list were BASF, Mercedes-Benz, and Porsche, at the end of the list, Rheinmetall, Zalando, and SAP.
“With the start of trading on the Eurozone’s stock markets today, we are waiting for the ECB’s interest rate decision on Thursday,” said Thomas Altmann of QC Partners. “That the ECB will turn the screw again on Thursday is a consensus.” What’s more important again will be the outlook. “Currently, stock market players are also counting on a 0.25% step down after the four interest rate meetings.” In this context, the updated growth and inflation forecasts of the ECB would be of high significance, according to Altmann.
The European common currency was slightly weaker on Monday morning: one euro cost 1.0560 US dollars, and one dollar was available for 0.9470 euros.
Meanwhile, the oil price rose significantly: a barrel of North Sea Brent cost around 9 a.m. German time 71.97 US dollars; that was 85 cents or 1.2% more than the closing level of the previous trading day.