The German DAX index experienced a decline on Friday, closing at 24,378 points – a decrease of 0.2 percent compared to the previous day’s close. Market activity was subdued, with investors exhibiting caution, particularly focused on defensive sectors and the technology space. While some bolder investors entered the market, supporting the shares of companies including BASF, Daimler Truck, Continental and Mercedes-Benz.
The potential for a US government shutdown has temporarily halted the release of key economic indicators and labor market data, impacting market sentiment. This situation has prompted the postponement of the scheduled release of initial unemployment claims from the US. Furthermore, the ISM Purchasing Managers’ Index for the US service sector underperformed market expectations, aligning with disappointing figures from Europe. Trading volume remains thin due to the holiday schedule, although a balanced market dynamic is observed.
The Euro strengthened slightly during Friday afternoon, trading at $1.1738, with the US dollar fetching €0.8519.
Gold prices saw a positive trend, reaching $3,889 per fine ounce (+0.8 percent), equivalent to €106.51 per gram.
Oil prices also registered a notable increase, with a barrel of Brent North Sea crude trading at $64.77 at approximately 17:00 German time – a rise of $0.66 or 1.0 percent compared to the previous trading day’s closing price.