The German DAX index maintained a positive trajectory on Monday, building upon an encouraging start to the trading day and remaining in the green throughout the morning. By 12:30 PM local time, the benchmark index reached approximately 23,765 points, reflecting a 0.7 percent increase compared to Friday’s closing level.
Leading the gains among the DAX components were Commerzbank, Adidas and Heidelberg Materials, followed by Daimler Truck, Hannover Rück and Porsche.
Market expert Andreas Lipkow commented on the performance, suggesting that current market sentiment is being positively influenced by recent German economic data. He expressed hope for a stabilization at the present, albeit lower, economic level, pointing towards a potential “bottoming out” that could pave the way for a sustainable economic recovery in the coming years.
However, Lipkow cautioned against premature optimism, noting that investors are exercising caution ahead of upcoming monetary policy meetings in both Europe and the United States. “Prior to these major central bank events, investors tend to remain on the sidelines, although they do use the opportunity to make adjustments to their positions in DAX-40 companies.
The euro strengthened slightly against the US dollar, trading at $1.1725, while a dollar was valued at €0.8529.
Meanwhile, oil prices saw a significant increase. Brent crude from the North Sea fetched $66.79 a barrel at midday, representing a 2.0 percent rise from the previous trading day’s close.
