The German stock market opened positively on Monday, with the DAX index continuing its upward trajectory throughout the morning session. By midday, the benchmark index reached approximately 23,710 points, marking a gain of 1.2 percent above Friday’s closing level.
Zalando and Allianz were among the top performers, with Allianz experiencing significant growth following its recent acquisition of Viridium, jointly with other insurance companies. Conversely, Bayer, Daimler Truck and Siemens Healthineers registered losses during the same period.
Market analyst Andreas Lipkow noted that investors were capitalizing on recent lower valuations in leading German stocks, particularly targeting shares in Rheinmetall, banks and financial institutions and defensive equities.
While caution remains prevalent regarding automotive stocks, the positive signals from the US pre-market trading contributed to a supportive environment for European financial markets. Lipkow emphasized that the prevailing sentiment remains cautiously optimistic, although it reflects some reservations about the future economic trajectory in Europe.
The euro experienced a slight depreciation against the US dollar, trading at $1.1558, with the dollar fetching €0.8651.
Oil prices saw a notable decline, with a barrel of Brent North Sea crude falling to $68.86 – a decrease of 81 cents or 1.2 percent compared to the previous day’s closing price.
