On Monday, the Dax maintained its record level, staying in positive territory after a relatively friendly start to the day. Calculations around 12:30 PM showed the index at approximately 25,825 points, representing a 0.2 percent gain compared to the previous trading day. Scout24, Rheinmetall, and Deutsche Börse topped the list of performers, while Hochtief, Continental, and Infineon posted losses.
Andreas Lipkow, Chief Market Analyst at CMC Markets, suggests that the index is well on track to test the next major round figure in the coming days. He explained that investors are continuing to favor cyclical sectors, a trend confirmed by positive fundamentals, specifically German industry orders and Eurozone producer prices.
Lipkow noted that a rotation has been occurring across European stock markets recently, moving capital away from tech stocks and into “Old Economy” companies. This reallocation is fueled by both seasonal factors and the hope of a potential stabilization in economic output. Furthermore, the declining prices are reducing inflation concerns, which supports the overall positive momentum.
In other markets, the Euro weakened slightly by midday. The Euro traded at 1.1419 US dollars, meaning the dollar cost 0.8757 Euros. Concurrently, the price of crude oil dropped. Around noon Central European Time, a barrel of North Sea Brent crude was priced at $71.58 per barrel, which was 54 cents, or 0.8 percent, less than it was at the close of the previous trading day.
