The DAX began trading on Tuesday morning with slight gains. At about 9:30 AM, the leading index was calculated at roughly 24,925 points, representing a 0.1 percent increase over yesterday’s closing figure. The stocks leading the performance were Gea, Rheinmetall, and Scout24, while Brenntag, BMW, and Infineon finished among the laggards. Throughout the day, investors are also anticipating the ZEW Index for June.
Yesterday, the DAX briefly regained the psychologically important 25,000-point mark, meaning the previous record high is now within reach. However, Thomas Altmann of QC Partners noted that the next moves depend on whether further buyers enter the market following yesterday’s gains. He cautioned that if not supported by additional, particularly long-term, buyers, further price increases would be difficult. “Every time above 25,000, profit-taking has occurred. Profit-taking could quickly halt the upward trend this time as well.”
Meanwhile, the European common currency showed some weakness at the beginning of Tuesday morning. The euro was priced at $1.1590, while a dollar cost 0.8628 euros. Concurrently, oil prices fell. At around 9 AM Central European Time, a barrel of Brent North Sea crude was priced at $82.45, which was 72 cents, or 0.9 percent, less than the previous day’s close.
