The German stock market experienced a significant uptick on Thursday, with the DAX index closing at 24,371 points, a 1.5% increase compared to the previous day’s closing value. The index demonstrated a positive trend throughout the trading day, building on an encouraging start with further gains recorded in the afternoon.
Contributing to the positive sentiment was data released from the United States, which showed stronger-than-anticipated retail sales figures. This development appears to have eased concerns regarding the economic outlook, particularly in light of ongoing trade tensions.
Within the DAX, shares of Siemens and Siemens Energy were among the leading performers until shortly before the close of trading. Conversely, E.On and BMW stocks were at the bottom of the list.
In the energy sector, natural gas prices declined. A megawatt-hour (MWh) of gas for delivery in August was priced at 34 euros, representing a 1% decrease from the previous day’s levels. This implies a consumer price of roughly eight to ten cents per kilowatt-hour (kWh), including ancillary costs and taxes, should this price level prove sustainable.
However, the price of crude oil saw an increase. A barrel of Brent North Sea crude was trading at $69.00 at around 5:00 PM German time, up 48 cents or 0.7% compared to the close of the previous trading day.
The euro weakened against the US dollar, trading at $1.1594. This meant that one US dollar could be purchased for €0.8625.
