The Dax index started the trading day on Tuesday with losses. By 9:30 am, the leading index was calculated at around 20,277 points, 0.2% lower than the previous day’s close. The top of the stock list was dominated by Airbus shares, with RWE and Deutsche Post at the bottom.
“Investors are worried about being caught off guard and losing part of the performance they had achieved so far” commented market analyst Andreas Lipkow. This can be seen in the low trading volume and the selective approach of Dax companies. “The guidelines from the US were generally positive, but marked by a noticeable restraint” the analyst said. “There was also a certain respect shown in the Asian trading, in anticipation of the upcoming meetings of the US Federal Reserve and the Bank of Japan.”
The current economic sentiment is “extremely fragile” and the question of whether China will introduce economic stimulus programs remains unanswered, Lipkow said. “This is prompting a noticeable frustration among market participants, and no buying sentiment is emerging.”
The European common currency was slightly weaker on Tuesday morning: one euro cost $1.0497, and one dollar was worth $0.9527 euros.
Meanwhile, the oil price fell: a barrel of North Sea Brent crude was trading at $73.73 at 9 am German time, 18 cents or 0.2% lower than the previous day’s close.