The DAX stayed well above the green threshold into the afternoon on Thursday, continuing the positive start of the trading day. Around 12:30 p.m., the index was calculated at roughly 24,860 points, about 1.2 % higher than the previous day’s closing level.
Daniel Kostecki, market analyst at CMC Markets, said, “There’s a lot of relief on the trading floors of the world following President Trump’s remarks in Davos, and especially after the evening news coming in from the Swiss Alps”. He added that the U.S. government is now pulling back from the tariff hikes it had threatened over the weekend, as part of a framework deal concerning Greenland.
Kostecki questioned whether Trump’s move truly signals a retreat or if it is a classic distraction tactic to divert attention from Washington’s real gains. He noted that reports from “The New York Times” suggest an agreement involving the U.S., NATO, Denmark, and Greenland could implement a model previously used in U.K.-Cyprus relations. In the long run, such a step could reshape the power balance in the Arctic fundamentally for the benefit of the United States.
The proposed application of this legal framework to Greenland would, if realized, extend far beyond simple extensions of military lease agreements. The U.S. could be aiming to establish enclaves over which it would exercise full, exclusive sovereignty-potentially to enable unrestricted mineral extraction or to support the nearly $200 billion “Golden Dome” project. These areas would be stripped of both Danish and Greenlandic jurisdiction.
A key interest in this scenario is access to rare earths. The U.S. is expected to begin development of the Tanbreez deposit in Greenland soon. Since the end of last year, the publicly listed company Critical Metals Corp. has controlled the project after buying it from an Australian firm that had previously searched for rare earths at that site.
Currently, Greenlandic law effectively prohibits uranium mining. Establishing a sovereign U.S. base that includes this area would automatically lift those local restrictions. “U.S. federal law not only permits uranium mining, it explicitly recognizes it as a national‑security issue” Kostecki explained.
On Thursday afternoon, the euro strengthened slightly against the dollar: one euro was worth $1.1695, or in turn, one dollar was worth €0.8551.
Gold prices dipped modestly. At the close of the afternoon session, one fine ounce fetched $4,828-down 0.1 %-equivalent to €132.72 per gram.
Brent crude also fell during the day. Around noon German time, a barrel of North Sea Brent was priced at $64.47, 77 cents or 1.2 % lower than the previous trading day’s close.
