DAX holds steady above 23,000 as Iran tensions shape oil and markets
Germany's DAX index opened cautiously on Monday morning, hovering just below Friday's close. The market remained steady above 23,000 points, reflecting lingering hopes for eased tensions between Washington and Tehran. Meanwhile, investors watched for signs of progress in securing shipping routes through the Strait of Hormuz.
The DAX started the day at around 23,445 points, avoiding a drop below the 23,000 mark. This stability kept alive expectations that diplomatic talks could reduce tensions in the Iran conflict. Among individual stocks, Commerzbank led gains after Italy's UniCredit submitted a takeover bid.
Oil prices climbed sharply, with North Sea Brent crude reaching $106.20 per barrel—a 3.0% rise. The surge came as the US military explored options to protect ships in the Strait of Hormuz if ordered to provide escorts. President Trump has called for an international alliance, including China, to safeguard shipping routes, while also suggesting the US could take unilateral control of the strait. In currency markets, the euro edged up slightly against the dollar, trading at $1.1443. Gold, however, weakened, with an ounce dropping 0.5% to $5,002.
The DAX's resilience above 23,000 points suggests investors are still betting on a potential de-escalation in the Iran crisis. Rising oil prices and movements in currency markets reflect ongoing uncertainty over shipping security in the Strait of Hormuz. The situation remains fluid as diplomatic and military responses develop.
