The DAX moved into the green zone by noon after a weak opening. Around 12:30 p.m., the index stood at 23,650 points, 0.1 % above the previous day’s closing level. Zalando, RWE and Symrise were the top performers, while Deutsche Bank, Commerzbank and Continental lagged at the bottom of the list.
Andreas Lipkow, chief market analyst at CMC Markets, said investors are concentrating on limited bright spots, especially from a macro‑economic perspective. He noted that Zalando and Hannover Re shares have shifted into gains after presenting positive corporate results.
Lipkow added that investors are more cautious with banking stocks because further large cash outflows in the private‑equity sector are creating liquidity pressure, thereby raising credit risks in corporate finance and harming banks’ outlook.
Despite these concerns, investors remain optimistic about a quick resolution to the Iran conflict and view the high oil prices as a temporary phenomenon. They also point to the substantial hedging positions that were established before the Iran war, which are still cushioning potential price declines.
The upcoming major expiry on the futures market is therefore a focal point. Many investors are staying in the comfort zone, either moving into safe havens or fully hedged positions. It will soon become clear how long this stance can be maintained and what additional risks may emerge.
The euro edged higher at noon: one euro bought 1.1561 USD, meaning one USD was worth 0.8650 EUR.
Meanwhile, oil prices continued to climb. At approximately 12:00 p.m. German time, a barrel of Brent crude fetched $97.15, a 5.6 % increase from the previous day’s closing price.
