The German DAX started the trading day on Monday with losses. By 9:30 AM, the leading index was calculated at approximately 25,990 points, registering a 0.2% decrease from the closing level of the previous day. Among the top performers were Infineon, Siemens Energy, and RWE, while the biggest decliners included Qiagen, Vonovia, and SAP.
Market analysts noted that there will be no significant impetus from the United States throughout the day, as US stock exchanges remain closed for the Labour Day holiday. Jochen Stanzl, Chief Market Analyst at Consorsbank, stated that “the new week begins a little like the old one ended: with particular interest in semiconductor and AI stocks, but caution across the broader market.”
The optimism surrounding the development of AI demand, which was sparked by a new OpenAI language model boasting numerous features, carried over from Friday into the new week. However, Stanzl cautioned that because US traders are unavailable today, any new market direction might only emerge tomorrow when trading volumes resume.
In other global markets, the euro was slightly stronger on Monday morning, trading at 1.1618 US dollars, while the dollar was priced at 0.8607 euros. Oil prices also saw an increase; a barrel of North Sea Brent crude cost $97.17 around 9 AM Central European Time, marking an increase of 0.9% or 89 cents compared to the previous day’s close.
