The DAX index maintained a positive trajectory on Monday, continuing a favorable start to the trading day and remaining in the green throughout the morning. By midday, the benchmark index was calculated at approximately 23,935 points, representing a 0.6 percent increase compared to the closing level of the previous Friday.
Commerzbank, Siemens Energy and Munich Re led the performance on the leaderboard, while Merck, Porsche and Sartorius concluded the session among the top performers.
Market expert Andreas Lipkow attributed the initial positive reaction to a social media announcement indicating a postponement of US tariffs until August 1st. This move, according to the announcement, aims to provide trading partners additional time for negotiations. While markets responded favorably initially, Lipkow cautioned that this action highlights the complex and protracted nature of the ongoing discussions.
He emphasized that tariffs are still anticipated, although the precise figures and scope remain undetermined. Concerns were also raised by the fact that new orders in the German industrial sector fell short of market expectations. A notable development was the significant decline in producer prices within the EWU (Europe, Middle East & Africa) region, which aligned with prior projections. This uncertainty is expected to contribute to continued volatility in financial markets.
The Euro weakened during midday trading, with the exchange rate at 1.1730 US dollars, placing the dollar at 0.8525 Euros.
Meanwhile, oil prices observed an upward trend, with a barrel of Brent North Sea crude reaching $68.73 as of noon German time, marking a 43-cent, or 0.6 percent, increase from the previous day’s closing price.
