The DAX began Monday’s trading session on a moderately positive note. Around 9:30 AM, the leading index was calculated at approximately 25,055 points, representing a 0.3 percent gain over Friday’s closing level. The stocks leading the gains included Infineon, Rheinmetall, and RWE, while the weakest performers were Adidas, Mercedes-Benz, and SAP.
Jochen Stanzl, Chief Market Analyst at Consorsbank, commented that “the DAX starts in a constructive position close to 25,000 points for the new trading week.” He added that while the weekend had suggested a potential failure of the recently announced understanding regarding the Iran conflict, positive news concerning newly established communication channels and agreement on a roadmap in the negotiations has instilled fresh confidence.
Traders have been following the trajectory of the conflict for weeks, stating, “They are buying directly and not waiting until a peace agreement with all the details has been reached.” As long as the conflict remains generally on a diplomatic path toward conclusion, there is little reason for the stock markets to reassess the situation.
Meanwhile, the European common currency was slightly weaker on Monday morning. One euro cost $1.1459, and consequently, one dollar was obtainable for 0.8727 euros.
Oil prices dropped, with a barrel of North Sea Brent crude priced at $79.19 around 9 AM German time. This figure represented a decrease of 138 cents, or 1.7 percent, compared to the prior day’s close.
