The German stock index, the Dax, remained near the closing level of Friday throughout Monday morning after a modest start to trading. Around 12:30 p.m., the leading index measured approximately 26,445 points, representing a gain of 0.01 percent over the previous week’s close. Siemens Energy, Rheinmetall, and Deutsche Börse led the performance, while Zalando, Qiagen, and Vonovia finished near the bottom of the ranking.
The possibility of the Dax reaching its record highs achieved last week remains within reach. Jochen Stanzl, Chief Market Analyst at Consorsbank, stated that investors are banking on the idea that before the US midterm elections, neither a new escalation in the Middle East nor an interest rate hike by the American central bank is expected.
Meanwhile, the European common currency strengthened during Monday’s midday trading. The euro cost 1.1593 US dollars, meaning the dollar fetched 0.8626 euros.
In the commodity market, the price of oil increased. Around 12:00 German time, a barrel of Brent crude from the North Sea was priced at 89.53 US dollars, up 1.1 percent from the close of the prior trading day.
