After a sluggish opening, the DAX moved into positive territory by noon. At around 12:30, the index was quoted at about 24,670 points, a rise of 0.5 % from Friday’s closing level.
Market participants took advantage of the weak start to rebuild positions, said market expert Andreas Lipkow. Shares of Adidas, Hannover Re and Deutsche Telekom were especially popular among investors. Infineon, however, remained under pressure from sales challenges in the technology sector.
The European Purchasing Managers’ Index published today suggests a potential bottom, providing a bit of tailwind for the DAX. Nonetheless, the US pre‑market is still weak, so it remains to be seen whether the DAX’s relative strength will hold. The day’s trading will also keep an eye on Walt Disney’s and Palantir’s upcoming quarterly earnings.
