The German stock index, DAX, displayed a cautious performance on Thursday, fluctuating slightly after a modest positive start to trading. As of 12:30 PM, the index registered approximately 23,810 points, a marginal increase of 0.1 percent compared to the previous day’s closing value.
Leading the gainers were Infineon, Siemens and Bayer, while Rheinmetall, Siemens Energy and Fresenius experienced some of the steepest declines.
Market analyst Andreas Lipkow commented on the mixed signals emanating from Asian trading, citing Chinese economic data and trade agreements with countries like Vietnam and the United States. He noted a continuing slowdown in the Chinese economy and observed the U.S. employing a strategy of “coercive deals” in its trade negotiations.
Lipkow cautioned that the European stock market (EWU) might follow a similar uncertain path. He suggested a consensus outcome in trade negotiations was unlikely, with the possibility of further tariffs remaining open. The key question, he stated, was whether European companies would be able to mitigate the impact of such measures.
Looking ahead, Lipkow highlighted the upcoming U.S. jobs report, scheduled for later today. This data is particularly significant following yesterday’s weak ADP employment figures. He anticipates continued investor caution until after July 9th, a period marked by a likely low trading volume.
In currency markets, the Euro weakened slightly during Thursday afternoon, with one Euro trading at 1.1794 US dollars. Conversely, one US dollar was equivalent to 0.8479 Euros.