FRANKFURT (dpa-AFX) - Cautious optimism regarding the U.S.-Iranian negotiations over the Strait of Hormuz, coupled with positive leads from overseas markets, should provide initial support for the Dax on Monday. Two hours before the Xetra opening, broker IG signaled a 0.22 percent gain for the German benchmark index, placing it at 24,182 points. Following a lackluster week during which the Dax briefly slipped below the 24,000-point threshold, it is now expected to hold above its 200-day moving average, a key indicator for the long-term trend. This average currently stands at 24,114 points.
According to the U.S. news website Axios, Iran has presented a new proposal to the United States concerning the reopening of the Strait of Hormuz, a vital artery for global oil transit. This has offered some market support, even as oil prices remain elevated. Brent North Sea crude was recently trading at just over 107 dollars per barrel.
Furthermore, the boom in Artificial Intelligence continues to drive global equity markets. In the U.S., the Nasdaq indices and the broad-market S&P 500 reached record highs before the weekend. In Asia on Monday, Japan's Nikkei 225 surpassed 60,000 points for the first time. South Korea's Kospi index also climbed to an all-time high./ajx/stk
