At the start of the new week, the German stock market is once again volatile. Specifications from the USA are missing due to the holiday, negotiations with Iran remain in view.
The DAX started the session 0.2 percent higher at 25,035.93 points. After initially moving in green territory, things are now moving into negative territory.
The round mark of 25,000 points remains in focus. On Friday, the leading German index even made a push towards a record high with a temporary peak of 25,173 points, but ultimately fell back below the psychologically important hurdle.
US specifications are missing after holidays
Since there was no trading in the USA on Friday due to a public holiday, the German stock market is missing Wall Street’s guidelines at the start of the week.
However, positive signals came from Asia: The indices there largely recovered from initial losses on Monday due to signs of progress in diplomatic efforts to end the Iran war. Traders are watching a rally in technology stocks, with Japan’s Nikkei 225 even jumping to another all-time high.
Investors in “waiting position for agreement in the Middle East”
The US and Iran had agreed on a roadmap to reach a final peace agreement within 60 days. A communication mechanism for safe passage for merchant ships through the Strait of Hormuz will also be installed. The current development reassured investors, as there had previously been reports over the weekend that Iran had broken off talks and closed the Strait of Hormuz. The Brent oil price fell again with the signals of relaxation.
New members in DAX and Co.
There is a change in the DAX at the start of the week: HOCHTIEF shares will be represented there from Monday. The shares of the VW holding company Porsche SE have to give way to the construction group’s paper.
There will also be further changes in the MDAX and SDAX from today.
DAX record last in January
The gap to record levels remains the focus for the German stock market at the moment. On January 13th, the DAX reached an all-time high of 25,507.79 points. Ultimately, it ended trading that day at 25,420.66 points, which also set a record based on the closing price.
Carolin Ludwig, Alexandra Hesse, Julia Walter, finanzen.net editorial team with material from dpa-AFX and Dow Jones Newswires
Image sources: Sebastian Kaulitzki / Shutterstock.com, PhotoGranary02 / Shutterstock.com
