The DAX index opened the trading day on Monday with gains, reflecting a cautiously optimistic start to the week. As of 9:30 AM local time, the benchmark index was calculated at approximately 23,790 points, representing a 0.4 percent increase compared to Friday’s closing level.
Leading the performance within the DAX were Rheinmetall, Infineon and Heidelberg Materials, while Qiagen, Symrise and FMC lagged at the lower end of the rankings.
Despite a seemingly buoyant atmosphere on Wall Street, the positive sentiment has been less impactful in the European market, according to Thomas Altmann of QC Partners. He noted a prevailing attitude of “wait and see” adding that trading volumes within the DAX remain significantly below average. The index has experienced a fluctuating pattern over the past two weeks, with five positive and five negative trading days, indicative of a directionless sideways market.
The euro strengthened slightly against the US dollar, trading at $1.1737, with the dollar valued at €0.8520.
Oil prices also saw an increase, with a barrel of Brent crude fetching $67.25, a rise of 26 cents, or 0.4 percent, compared to the previous day’s closing price.
