The Dax started the trading day on Thursday with gains, reaching a new all-time high. Around 9:30 am, the leading index was calculated at approximately 26,975 points, marking a 1.2 percent increase over the previous day’s closing level. At the top of the price list were Siemens, Zalando, and Allianz, while Infineon, Deutsche Bank, and Brenntag finished at the bottom. Thomas Altmann of QC Partners stated that the current strength confirms the Dax’s long-term seasonal pattern. He noted that observing the complete Dax history, including backcasting from 1960, provides a period of 66 completed calendar years. Within this overall timeframe, November is, on average, the best month. The hope that December is the fifth best month in the long-term evaluation makes the year-end sprint even more optimistic. Altmann added that the new stock optimism is mainly supported by the declining oil and gas prices. The hope for peace in Iran is causing the important energy carriers to become somewhat cheaper again. The European common currency was slightly stronger on Thursday morning: one Euro cost 1.1090 US dollars, and a dollar could be bought for 0.9017 Euros.
Mixed
