The German stock market closed in positive territory again on Thursday, but the upward movement seemed sluggish and once more required impetus from the US. Investors appeared hesitant to commit to German equity markets. The German leading index closed up 0.63 percent at 23,934.13 points.
Within the DAX, Commerzbank shone with a gain of 2.4 percent. Close behind were shares of Henkel and SAP, both of which rose by 2 percent. At the bottom of the performance scale was chemical giant BASF, whose shares fell by 2.2 percent. BASF stock continues to struggle with finding a floor; while it's no longer seeing significant further declines, it lacks a breakthrough news item that could put it back in the spotlight for investors.
Robust US Economy Boosts Markets Ahead of Holiday
Recent economic data from the US confirm the stable state of the US economy. This positive development was met with great enthusiasm by the markets ahead of Independence Day. Leading US indices – the Dow Jones Industrial Index, the technology-heavy NASDAQ, and the broad-based S&P 500 – all experienced a positive Thursday. The NASDAQ, in particular, surged ahead of the pack with a performance of over 1 percent. The S&P 500 ended the day up 0.8 percent, followed by the Dow Jones, which also posted a strong 0.7 percent gain.
Quiet Trading Expected Friday – Focus Shifts to Next Week's Open
This Friday is likely to see quieter trading due to the Independence Day holiday in the US. With US exchanges closed, significant impulses from overseas will be absent. Following Thursday's friendly market activity, it's anticipated that no erratic movements will occur. Instead, it will be interesting to observe how US markets return to trading next Monday after the long weekend.
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