The DAX showed minimal movement at the start of the week. By the close of trading on Xetra, the index was calculated at 26,323 points, representing only a slight gain compared to the previous trading day.
Qiagen was the clear top performer on the stock list Monday, as investors appeared to be convinced by the diagnostics conglomerate’s latest quarterly figures.
According to Andreas Lipkow, Chief Market Analyst at CMC Markets, investors in Frankfurt are approaching the new week with a relaxed demeanor following the recent period of strong gains. “Potential trading impulses are diminishing, and the focus remains on the trio of the Iran conflict, energy prices, and monetary policy,” Lipkow commented.
AI and semiconductor stocks registered buying interest again today, effectively offsetting the negative impact of slightly rising oil prices. The market’s relaxed approach is also influenced by the latest weak data indicating a softening US labor market.
Furthermore, the ongoing negotiations between the US and Iran, coupled with a recent easing of the military situation, is also a factor. Although the majority of investors remain optimistic about a diplomatic solution, Lipkow noted that the overall situation remains unclear and challenging.
Investors are also allocating some funds into precious metals, leading to minor increases in the price of gold and silver. Additionally, Lipkow suggests that the topic of rare earths is likely to gain prominence again in the coming weeks, given the US effort to position itself as more central and independent in that sector.
On the currency front, the European common currency weakened slightly on Monday afternoon: the Euro traded at $1.1548, making the US dollar available for 0.8660 Euros.
Gold prices saw a slight increase, reaching $4,350 per fine ounce in the afternoon (up 0.2 percent), which translates to €121.12 per gram. In contrast, the price of oil surged. A barrel of Brent crude, based in the North Sea, cost $86.72 by 5 PM German time on Monday, marking a 3.8 percent jump from the previous day’s close.
