Stock market: Dax up, RWE and Thyssenkrupp slip, Bitcoin at record high

After midweek gains brought the DAX back to its week-ago level, the positive trend continued on Thursday. The German benchmark index rose another 0.3 percent to 24,267 points. The MDAX rose 0.5 percent to 31,071 points. The Eurozone benchmark index, the EuroStoxx 50, rose 0.2 percent to 5,400 points.

Investors are eagerly awaiting the meeting planned for Friday between US PresidentDonald Trump (79) and Russian President Vladimir Putin (72). "Expectations are high, and the stock markets have likely already priced in a very positive scenario," wrote portfolio manager Thomas Altmann of QC Partners. However, Altmann believes it will be a long time before the economic effects of a positive meeting become apparent, as this will primarily occur in the context of the reconstruction of Ukraine.

Meanwhile, the energy supplier RWE came into focus in the DAX, with its shares falling 3.4 percent as the laggard. While the company confirmed its annual targets, a trader commented that its half-year figures were weak across the board due to low wind conditions and sluggish energy trading.

The MDAX also saw some negative developments: Economic headwinds, including those caused by erratic US tariff policy, clouded Lanxess 's business outlook. This chemical company is now among those that have already lowered their forecasts. The share price fell by 1.7 percent.

Thyssenkrupp shares fell by 7.5 percent. The industrial group suffered from lower demand and lower prices. While the marine division TKMS, which is about to be spun off, was a bright spot in the third quarter, it could not offset the weaker performance in other areas. The targets for sales and adjusted operating profit were lowered.

The strong euro put a damper on the annual financial statements of the meal kit mail-order company HelloFresh , forcing it to cut its earnings forecast for 2025. The company's share price subsequently plummeted by around 15 percent.

Driven by stronger demand from institutional investors, Bitcoin has risen above the $124,000 mark for the first time . On Thursday night, the oldest and most well-known cryptocurrency reached a record high of $124,517 on the Bitstamp trading platform. By the morning, however, the price had fallen back below $122,000. Since the beginning of the year, Bitcoin has gained nearly 32 percent in value.

US investors remained optimistic in anticipation of falling interest rates. The Dow Jones US blue-chip index closed yesterday, Wednesday, up one percent at 44,922 points. The broad-based S&P 500 gained 0.3 percent to 6,467 points, and the tech-heavy Nasdaq stagnated at 21,713. Moderate inflation figures following a weak US labor market report fueled speculation about a rate cut by the Federal Reserve in September. Traders are betting on a 25 basis point cut with a near 100 percent probability.

Asian stocks took a breather on Thursday morning. Investors on the Tokyo Stock Exchange cashed in after a record run. Furthermore, concerns about a rate hike by the Bank of Japan pushed the 225-stock Nikkei Index down 1.3 percent to 42,727 points. The broader Topix closed one percent lower at 3,060 points. The previous day, the Nikkei Index had surpassed the 43,000 mark for the first time, marking its sixth consecutive day of gains.

The upcoming meeting between US President Donald Trump and his Russian counterpart Vladimir Putin is driving up oil prices. On the commodity market, Brent crude from the North Sea rose by 0.4 percent to $65.92 per barrel (159 liters). US WTI crude was up 0.5 percent at $62.93.

This means prices have recovered some of their losses from the previous day. On Wednesday, both contracts fell to their lowest levels in two months following pessimistic supply forecasts from the US government and the International Energy Agency (IEA).