The DAX remained strongly positive through the afternoon session of Ascension Day, extending the gains made since the start of trading. As of 12:30 PM, the leading index was calculated at approximately 24,460 points, marking a 1.3% increase from the previous day’s closing level.
Market analyst Andreas Lipkow pointed out that technology and cyclical sectors, such as chemicals and automotive, were the key focus areas on Thursday. However, the overall trading environment in Germany suggested a typical holiday market characterized by low trading volume. Amid this, investors seemed pleased that the diplomatic meeting between the US and China proceeded without major disruptions, though the issue of Taiwan was noted as remaining highly contentious on both sides. Within the DAX, companies like Infineon, SAP, and VW were identified as clear winners.
Turning to international markets, Lipkow also noted that the FTSE 100 was trading slightly stronger that day. In the UK’s leading index, attention was drawn to insurance companies following the recent disclosure of accounts by the insurer Aviva. Burberry’s shares were also closely watched after the company presented its quarterly data. Although the figures were slightly above expectations, market participants were engaging in profit-taking. Profit-taking was also visible in the mining sector, involving companies like Glencore and Rio Tinto.
In the currency market, the European common currency experienced a slight dip on Thursday afternoon; one Euro bought $1.1710, meaning one US Dollar was worth 0.8540 Euros.
Regarding commodities, the price of gold saw a minor increase, climbing to $4,697 per fine ounce in the afternoon-a rise of 0.2%. This equates to a price of €128.96 per gram. Meanwhile, oil prices slightly declined. Brent crude in the North Sea traded at $105.60 per barrel around German noon, representing a decrease of 6 cents, or 0.1%, compared to the previous closing prices.
