The DAX began trading on Thursday with gains. At around 9:30 AM, the benchmark index was calculated at approximately 26,560 points, marking a 0.5 percent increase from the previous day’s closing level. Leading the gainers were Volkswagen, Heidelberg Materials, and Mercedes-Benz, while the stock closers included Rheinmetall, Commerzbank, and Siemens Healthineers.
Jochen Stanzl, chief market analyst at Consorsbank, noted, “The long-awaited break above 26,000 points in the DAX has now convincingly occurred. The DAX is rising to a new record high. You are increasingly hearing the phrase ‘year-end rally’ on the trading floor, partly because many funds and investors reduced their stock allocations before the elections and now feel compelled to buy in.”
Stanzl suggested that global markets may be benefiting from several positive factors following the U.S. election results. He explained that because the outcome was clear and Trump accepted the result, the shared political power presented lower risk of political surprises, a stability that “the stock market loves” and reacts to positively.
In currency movements, the Euro showed slight strength on Thursday morning: one Euro traded at $1.1246, while the Dollar was available for 0.8892 Euros.
