DAX Closes Up 0.88% as Investors Cheer Fed's Monetary Policy
The DAX index closed Thursday at 15,643.97 points, up 0.88 percent, driven by investor optimism following the Fed's monetary policy decision. Meanwhile, gold prices weakened, and the euro fluctuated against the US dollar.
The DAX's rise was largely due to investors' positive reaction to the Federal Reserve's decision to maintain its ultra-loose monetary policy. This news boosted market confidence, leading to gains across various sectors.
Gold prices, however, weakened on the day. An ounce of gold traded at $1,762, reflecting a decrease in demand. This price point also translated to €48.45 per ounce, indicating a slight strengthening of the US dollar against the euro.
Among individual stocks, Fresenius and Bayer experienced losses, while Continental and Infineon performed well, with significant gains. Fresenius Medical Care shares were at the bottom, down over one percent. In contrast, Sartorius preference shares (Sartorius Vz) closed with a gain of approximately 3.7%, reaching 225.30 euros. Ordinary Sartorius shares also led the gains, up over three percent.
The DAX's gain of 0.88 percent reflects investor confidence in the current stock market conditions. Despite gold's price drop and currency fluctuations, the overall market showed resilience, with some stocks, like Sartorius, performing exceptionally well.
