The German benchmark index, the DAX, opened Monday’s trading session with losses. Around 9:30 am Central European Time, the index was calculated at approximately 23,485 points, representing a decline of 0.7 percent from Friday’s closing level.
A reshuffle of the DAX composition took effect today, with Gea and Scout24 replacing Porsche and Sartorius. However, the impact on investors from these alterations and subsequent market fluctuations remains limited, according to Thomas Altmann of QC Partners. He noted, “The heavyweight stocks of SAP, Siemens and Deutsche Telekom together comprise 30 percent of the DAX and as such, the established large-cap companies will continue to primarily drive the index’s movements.
While the newly included companies face a significant journey to achieve substantial gains and meaningfully influence the DAX’s trajectory, it remains crucial that the composition of the leading index is regularly adjusted to reflect the evolving market environment.
The euro weakened slightly this morning, trading at $1.1747, meaning $1 was worth €0.8513.
Meanwhile, oil prices saw an increase: Brent crude from the North Sea was trading at $67.04 per barrel around 9 am CET, a rise of 36 cents or 0.5 percent compared to the previous trading day’s close.
