The DAX opened the trading day with gains. Around 9:30 AM, the benchmark index was calculated at approximately 25,550 points, representing a 0.7 percent rise from the previous day’s closing level. The top gainers included Mercedes-Benz, Volkswagen, and BMW, while FMC, Infineon, and Qiagen saw losses.
Thomas Altmann of QC Partners commented that the stock markets are currently situated between the influence of two opposing forces. On one hand, there is growing optimism regarding a potential deal between the U.S. and Iran. On the other hand, there is mounting anxiety over a potential overextension of the AI rally. Altmann suggested that the index composition is key: indices with high semiconductor weighting, such as the Nasdaq 100 and South Korea’s Kospi 200, are currently falling, while value-oriented indices like the DAX are benefiting from the trend.
Yesterday, the DAX had achieved its fifth-highest figure of the year, notably surpassing the round 25,000 mark. According to Altmann, the lingering question is whether more buyers will enter the market to help push the German benchmark index to a new high.
In related market news, the European community currency was slightly stronger in the morning; the Euro traded at $1.1373, while the Dollar was available for 0.8793 Euros. Meanwhile, the oil price dropped sharply. Around 9 AM Central European Time, a barrel of North Sea Brent crude cost $86.55, which is 2.1 percent (181 cents) less than the previous day’s close.
