The DAX opened the week with gains, closing at 23,807 points at the close of Xetra trading. This represents a 0.9 percent increase compared to the previous trading day.
Zalando, Adidas and Commerzbank saw particularly strong performance. Conversely, Deutsche Telekom, Daimler Truck and Porsche shares bucked the upward trend, trading in the negative.
“Investors are showing a degree of reassurance regarding the easing political and economic climate in Europe, however, a considerable element of caution persists” remarked market analyst Andreas Lipkow. Market participants are exercising selectivity, focusing primarily on a limited number of sectors.
Lipkow noted that given the range of possibilities in September, it doesn’t make sense to concentrate investments on a single asset. He anticipates this reluctance to invest will likely continue until the upcoming Federal Reserve meeting in the coming week.
The Euro strengthened against the US Dollar on Monday afternoon, trading at $1.1746, equivalent to €0.8514 per Dollar.
The price of gold also experienced a notable increase, reaching $3,635 per fine ounce in the afternoon (+1.4 percent). This translates to €99.49 per gram.
Meanwhile, oil prices surged, with a barrel of Brent North Sea crude costing $66.34 in the afternoon, up 84 cents or 1.3 percent compared to the close of the previous trading day.
