Dax Hits New Peak Despite Mixed Share Performance
The German stock market, represented by the Dax, reached a new peak on Thursday, climbing to approximately 24,670 points. However, not all shares were in the green, with those of Zalando, Beiersdorf, and GEA among the decliners. Meanwhile, the euro softened against the dollar, and commodity prices saw mixed movements.
The Dax's rise was driven by several leading stocks, including Bayer, Heidelberg Materials, and Daimler Truck. However, shares of Zalando, Beiersdorf, and GEA closed in the red, contributing to a less uniform market performance.
Market analyst Jochen Stanzl, Chief Market Analyst at CMC Markets, commented on the Dax's development, attributing the new high to positive sentiment and a lack of significant negative news. However, Andreas Lipkow, another market analyst, expects challenges ahead due to the upcoming earnings season and the normalization of macroeconomic data.
Commodity prices saw mixed movements. The oil price slipped, with a barrel of North Sea Brent costing 65.89 US dollars. Similarly, the gold price decreased slightly, with one ounce valued at 4,039 US dollars. Conversely, the dollar strengthened against the euro, with one euro equivalent to 0.8604 dollars.
Thursday's trading saw the Dax hit a new high, despite mixed share performance. The euro weakened against the dollar, and commodity prices fluctuated. As the earnings season approaches, market analysts anticipate potential challenges in the coming trading days.
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