German stock index DAX opens above 13,000 points, with BASF taking the lead
The stock exchange in Frankfurt opened with gains on Thursday, as the DAX increased by 0.9 percent compared to the previous day's close. By around 09:30 am, the DAX was calculated at approximately 13,045 points.
BASF, MTU, and HeidelbergCement were the top performing shares, with strong gains contributing to the overall rise of the DAX. On the other hand, Daimler, Vonovia, and Munich Re were the bottom performing shares.
SMA Solar, ProSiebenSat.1, Delivery Hero, LANXESS, and Thyssenkrupp Nucera were among the companies with the highest stock gains. SMA Solar experienced a sharp rebound, following a prior significant drop due to a profit warning. ProSiebenSat.1, on the other hand, benefitted from the end of a bidding war for the media company.
Gold prices also benefited from the positive market sentiment, with one ounce trading at 1,892.62 US dollars (+0.27 percent). One ounce of gold is equivalent to 51.69 euros per gram. The European common currency remained largely unchanged, with one euro trading at 1.1772 US dollars (+0.06 percent).
This positive trend in the German market comes amidst ongoing economic uncertainties and geopolitical tensions. As always, investors are advised to closely monitor market developments and make informed decisions based on their individual investment strategies.
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