French PM Lecornu's Reappointment to Shape EU Policy; Dax Trades Cautiously
In France, Prime Minister Sébastien Lecornu is set to significantly influence European policy after being reappointed by President Emmanuel Macron. Meanwhile, the Dax index traded cautiously amid global trade tensions and European political uncertainty.
The Dax closed Monday at 24,360 points, up 0.5% from Friday. Market expert Andreas Lipkow attributed this to caution over US-China trade relations and European political climate. Top performers were Infineon, BMW, and FMC, while Deutsche Telekom, Bayer, and Rheinmetall lagged.
The euro weakened midday, with one euro worth 1.1588 US dollars and one dollar worth 0.8630 euros. Oil prices rose, with a barrel of North Sea Brent crude costing 63.78 US dollars, up 1.7%. Lipkow warned that US President's trade policy statements could cause stock market damage, impacting the European economy.
The situation in France remains tense, with Lecornu's reappointment potentially bringing new twists to European politics. The Dax's performance reflects investors' wariness, with trade tensions and political uncertainty driving stock market caution.
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