The German stock market experienced a positive performance on Tuesday, with the DAX index closing at 23,611 points, a gain of 0.4% compared to the previous day’s closing value. Following a promising opening, the index initially expanded its gains during the morning session. Though a partial retracement of these gains occurred mid-day, the DAX resumed its upward trajectory in the afternoon.
The market received positive stimulus from the United States, where the Nasdaq and S&P 500 reached record highs. Investor attention is now keenly focused on a forthcoming address by Jerome Powell, chair of the U.S. Federal Reserve. Following a recent interest rate reduction, market participants are anticipating signals regarding the possibility of further rate cuts.
Throughout the trading day, Volkswagen and Adidas shares led the gains within the index, while Henkel shares exhibited the weakest performance.
Oil prices saw a significant increase, with a barrel of Brent North Sea crude oil reaching $68.04 on Tuesday afternoon, reflecting a 2.2% increase from the previous trading day’s close.
The Euro slightly weakened against the US dollar, trading at $1.1790, with a dollar being valued at €0.8482.
