The Dax started the trading day on Thursday with slight losses. By 9:30 am, the leading index was calculated at around 20,305 points, a minus of 0.1 percent compared to the previous day’s closing level. Beiersdorf, Sartorius, and Siemens Energy led the list of stocks, while Porsche, Deutsche Bank, and Munich Re ended the list.
The trading day is likely to be calm due to a lack of new impulses. “With the already published trade data from Germany and the production figures from the manufacturing sector, the fast pace has already been surpassed. Market participants will hold back in the run-up to tomorrow’s US employment data” said market expert Andreas Lipkow. The risks of negative surprises or outliers from the expected values are too great.
The Federal Reserve’s protocol from yesterday again made it clear that the US central bankers are very cautious with further measures and are closely monitoring the inflation developments in the US. In particular, the effects of the planned US tariffs are currently difficult to assess, Lipkow said.
The European common currency was weaker on Thursday morning: one euro cost $1.0284, and one dollar was worth $0.9724 euros.
Meanwhile, the oil price fell slightly: a barrel of North Sea Brent oil cost around $76.03 by 9 am German time, which was 13 cents or 0.2 percent less than the previous day’s closing level.