The German stock market benchmark, the DAX, experienced a mixed trading session on Thursday, initially building on a positive start before relinquishing some gains by midday. Despite this, the index remained firmly within record territory. At approximately 12:30 PM local time, the DAX was calculated at around 24,585 points, representing a slight increase of 0.1 percent compared to the previous day’s closing level.
Among the top performers were Porsche, Merck and Brenntag, while Commerzbank, Siemens Energy and Rheinmetall concluded the session lower.
Market analyst Andreas Lipkow attributed the sustained upward trend to a waning skepticism among investors that had previously held back the index. He noted the increasing influence of passive investment vehicles, which systematically allocate client funds into financial markets without selective analysis. “These investment vehicles are a significant driver of the current rally” Lipkow stated.
According to Lipkow, the current market momentum is likely to persist as long as inflows of capital continue. He cautioned, however, that the ongoing debate surrounding tariffs could potentially disrupt the European financial markets. While current expectations from European Union representatives point towards a favorable agreement with the United States, recent months illustrate the potential for unexpected outcomes.
The euro strengthened slightly against the US dollar during the midday trading period, reaching 1.1729 dollars per euro, equivalent to 0.8526 euros per dollar.
Meanwhile, oil prices saw a decline. Brent crude, a benchmark for North Sea oil, traded at $69.91 per barrel at approximately 12:00 PM local time, a decrease of 28 cents, or 0.4 percent, compared to the closing price of the previous trading day.
