FRANKFURT (dpa-AFX) - Following the long weekend and a robust performance on Thursday, the Dax began the month of May on a relatively positive note on Monday. Minutes after the Xetra opening, the German benchmark index was up 0.14 percent at 24,328 points.
Last Thursday, the Dax significantly brightened its technical outlook with a major intraday reversal. After opening at a session low of 23,715 points, it rallied nearly 2.5 percent to close at its daily high.
The MDax, which tracks mid-cap stocks, climbed 0.77 percent to 30,826 points on Monday. Meanwhile, the Eurozone benchmark EuroStoxx 50 traded slightly in the red.
Regarding the conflict in the Middle East, investors remain cautious, monitoring oil prices and hoping for the Strait of Hormuz to remain open. 'The situation did not improve significantly over the weekend, but it did not deteriorate significantly either,' commented market expert Andreas Lipkow of CMC Markets. He noted that the news flow remains opaque.
Fresh tariff announcements from US President Donald Trump targeting EU vehicles weighed on Dax components BMW, Mercedes-Benz, and Volkswagen. However, market analyst Jens Klatt of XTB noted that Trump's threats have historically served as bargaining chips or been subject to adjustment. He added that rapid bilateral talks between the US, the EU, and German manufacturers are now highly likely./ajx/mis
