The Dax started the trading day on Tuesday with a loss. By 9:30 am, the leading index was calculated at around 20,165 points, which is 0.3% lower than the previous day’s closing level. Adidas, Vonovia, and Infineon led the list of stocks, while Deutsche Bank, Continental, and Allianz trailed behind.
“Market participants need to explore the new situation” said market expert Andreas Lipkow. “The news from yesterday about the absence of US tariffs on European cars was already denied last night and leaves many market participants standing in the rain again.”
On the other hand, the US had added more Chinese companies to the blacklist and continued its restrictive trade policy. “The trading impulses today mainly come from the US in the form of retail sales, JOLTS data, and the ISM purchasing managers’ indexes for the manufacturing sector” Lipkow said.
The European common currency was stronger on Tuesday morning: one euro cost $1.0412, and one dollar was worth $0.9604 in euros.
Meanwhile, the oil price fell: a barrel of North Sea Brent was worth $76.11 by 9 am German time, which is 19 cents or 0.3% less than the previous trading day’s closing level.