The DAX experienced a continued decline on Friday, remaining in negative territory throughout the morning following a weak opening. By 12:30 PM local time, the leading index was calculated at approximately 23,785 points, representing a decrease of 0.6 percent from the previous day’s closing level.
The majority of DAX-listed companies registered losses. Rheinmetall shares stood out among the few exceptions, leading the list of gainers.
Market analyst Andreas Lipkow attributed the subdued performance to investor caution. “Investors are currently observing developments with regard to the trade conflict between the EU and the United States” he stated. “In addition, the war in Ukraine is once again drawing the attention of market participants, as there have been few diplomatic advances recently concerning this significant global issue.
Trading volume in the DAX futures remains low, suggesting a lack of panic or volatility among investors. The prevailing sentiment appears to be one of extended profit-taking across the broader market, rather than indicating a fundamental shift in market dynamics.
The euro strengthened slightly against the dollar on Friday afternoon, trading at $1.1778, with the dollar fetching €0.8490.
Meanwhile, oil prices decreased. Brent crude, a benchmark North Sea variety, was trading at $68.11 per barrel around noon local time, a 69-cent or 1.0 percent decrease from the previous day’s closing price.