The DAX began trading Monday with slight losses. At approximately 9:30 AM, the main index was calculated at around 25,050 points, which was 0.1 percent below Friday’s closing level. The top performers on the list included Scout24, Deutsche Telekom, and FMC, while Infineon, Hochtief, and Heidelberg Materials finished at the bottom.
Thomas Altmann of QC Partners commented that all hopes of a swift end to the new escalations in the Middle East fell apart over the weekend. He noted that talks have at least currently failed and that reciprocal attacks are continuing.
Consequently, oil prices are rising again. With the increase in oil prices, anxiety about a new wave of inflation is growing, causing yields to rise. Simultaneously, investors are becoming more cautious and are pulling back from risk assets such as stocks and Bitcoin. Altmann described this as a repetition of a well-known escalation scenario that has already been experienced multiple times.
During the previous trading days, bulls and bears waged a fierce battle in the DAX over the psychologically significant and round figure of 25,000 points. However, the bears are likely to achieve at least a partial victory at this level today.
