German stock index, DAX, begins above 13,000 marks; BASF takes the front seat.
Frankfurt Stock Exchange Opens with Gains on Thursday
The Frankfurt stock exchange started the day on a positive note on Thursday, with the DAX experiencing a 0.9% increase compared to the previous day's close. At approximately 09:30 AM, the DAX was calculated at around 13,045 points.
The morning saw a mixed performance among the DAX-listed companies. Reinsurers were the top performers, with Hannover RΓΌck leading the pack with a 3.5% increase following a UBS buy recommendation. Munich Re also gained 1.9%. In contrast, automobile manufacturers such as Volkswagen, BMW, Mercedes-Benz, and Porsche lost up to 2% and were among the weakest performers.
Daimler, Vonovia, and Munich Re were the bottom performing shares, while BASF, MTU, and HeidelbergCement were the top performers.
The price of one troy ounce of gold benefited from the positive market sentiment, with a +0.27 percent increase. This translated to a price of approximately 1,892.62 US dollars per ounce, equivalent to 51.69 Euros per gram.
The European common currency remained largely unchanged on Thursday morning, with one Euro worth 1.1772 US dollars.
These developments mark a continuation of the positive trend seen in recent weeks, as investors continue to navigate the global economic landscape.
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