The German stock market experienced a positive trading day on Thursday, with the DAX index continuing its upward trajectory after a strong start. By midday, the benchmark index reached approximately 24,355 points, representing a gain of 0.5 percent compared to the previous day’s closing level. Deutsche Bank shares led the gains, followed by MTU, Vonovia and Infineon.
Market analyst Andreas Lipkow noted that the initial upward momentum in European equity markets appears to be waning before fully developing. While consumer confidence in Germany remains subdued, positive data from the Purchasing Managers’ Index (PMI) for Germany and the Eurozone, slightly exceeding expectations, provided some support.
The European Central Bank (ECB) meeting, scheduled for Thursday afternoon, is currently the focal point for investors. Lipkow suggested the meeting is unlikely to contain any surprises, with no changes to interest rates expected. He anticipates the event to be relatively uneventful, although potential commentary regarding the US’s proposed tariffs and their potential impact on European inflation is conceivable.
Overall, the market expert anticipates continued calm trading patterns throughout the remainder of the day, characterized by relatively low trading volume.
The Euro was slightly weaker at noon, trading at $1.1748, with the dollar fetching €0.8512.
Meanwhile, oil prices saw a significant increase. Brent crude, a benchmark grade, reached $69.29 per barrel around midday German time, a rise of 78 cents, or 1.1 percent, compared to the previous day’s closing figure.
