The Dax index continued to decline in the afternoon, after a weak start to the trading day, and closed in the red zone by midday. By 12:30 pm, the leading index was calculated at around 19,965 points, 0.3% below the previous day’s closing level.
At the end of the trading day, the stocks of Infineon, SAP, and BASF were at the bottom of the list, while RWE, Deutsche Bank, and Hannover Rück performed better.
“The Asian market’s guidelines were generally positive and were fueled by a firmer US dollar, hopes of interest rate cuts in China, and a shopping spree in South Korea” said market analyst Andreas Lipkow.
However, these themes had little impact on the German market, or had already been priced in the previous day. “The firmer US dollar had a positive effect on many Dax companies already on Thursday” Lipkow added.
The European common currency was stronger in the afternoon: one euro cost $1.0291, and one dollar was worth $0.9717 euros.