The DAX opened on Monday with little change during the trading day. Around 9:30 AM, the leading index was calculated at approximately 26,350 points, slightly above Friday’s closing level by 0.1%. Leading the list of stocks were Qiagen, Infineon, and Siemens Energy, while Scout24, Munich Re, and Siemens Healthineers finished near the end of the rankings.
Geopolitical tensions remain a focus. Thomas Altmann of QC Partners commented, “The wait for the opening of the Strait of Hormuz continues.” He stated that Iran’s list of demands makes a prompt, complete reopening for ships from all countries highly unlikely. Altmann noted that the stock markets are reacting with surprising composure, adding that the hope for the Strait of Hormuz to open was the basis for the recent rally; consequently, the markets are now losing the foundation of that uptrend. Despite this uncertain backdrop, oil prices are only increasing moderately, and optimism persists in the stock market.
In other economic news, the European community currency began the morning slightly weaker: the Euro cost 1.1555 US dollars, meaning a dollar could be acquired for 0.8654 Euros. Meanwhile, the price of oil rose, with a barrel of Brent crude from the North Sea costing $84.09 around 9 AM Central European Time. This represented an increase of 54 cents, or 0.7 percent, compared to the close of the previous trading day.
