Germany’s DAX index experienced a significant increase on Thursday, closing at 24,193 points, a gain of 1.1 percent compared to the previous day’s close. The index demonstrated positive momentum from the start of trading, building gains in the morning session and stabilizing just below the 24,400-point mark.
Market analyst Andreas Lipkow attributed the rise to increasing expectations of a potential meeting between the presidents of Russia and the United States. However, he noted some investors were also taking profits at current levels, creating a cautiously optimistic environment. Lipkow emphasized the desire for de-escalation in the Ukraine conflict, with a ceasefire considered the ultimate objective and highlighted the need to observe how long this positive sentiment persists in financial markets.
Heidelberg Materials and BASF shares led the DAX gainers, while Deutsche Telekom and Rheinmetall registered declines.
Energy prices also saw downward movement. The price of gas for September delivery decreased by 1 percent to 33 euros per megawatt-hour (MWh), which translates to a consumer price of approximately eight to ten cents per kilowatt-hour (kWh), including additional costs and taxes, if the current level holds.
Brent crude oil experienced a slight decrease, trading at 66.65 US dollars per barrel in the late afternoon, down 0.4 percent from the previous day’s close.
The Euro also weakened against the US dollar on Thursday afternoon, trading at 1.1629 US dollars, while the dollar was valued at 0.8599 Euros.
