The DAX index continued its upward trend on Monday, building on a positive start to the trading week. By midday, the leading index reached approximately 23,810 points, representing a 0.3 percent increase from the previous day’s closing level.
Symrise, Infineon and Rheinmetall were among the top performers within the index. Conversely, shares of Commerzbank, Continental and Deutsche Bank experienced declines.
Market analyst Andreas Lipkow noted that the German market is attempting to stabilize around the 23,800-point level. “The DAX is repeatedly encountering resistance at the closely watched 100-day moving average” Lipkow stated. “The index has been oscillating within a trading range defined by the 200- and 100-day moving averages for several trading days.
A significant catalyst to propel the index decisively out of this range remains absent. However, Lipkow observed a continued interest in purchasing German blue-chip stocks as the quarter progresses.
The euro strengthened slightly during Monday afternoon, trading at $1.1717, resulting in a dollar-to-euro exchange rate of €0.8535.
Gold prices saw a substantial increase, reaching $3,815 per fine ounce (+1.5 percent), equivalent to €104.69 per gram.
Conversely, oil prices experienced a notable decrease. Brent crude, a North Sea variety, was trading at $69.12 per barrel, a decrease of $1.01 or 1.4 percent compared to the previous trading day’s closing price.
