The German Dax index showed a minimal change at the end of the week, closing at 22,551.43 points, a slight increase compared to the previous day’s close.
Market analyst Andreas Lipkow commented on the current developments, stating that US macro data largely met market expectations, except for private income, which was better than expected and US consumer spending, which was weaker than expected, as reported through news tickers. He noted that the declining consumer climate could accelerate the trend and particularly affect trade companies. Lipkow also warned that the likelihood of profit-taking before the weekend should not be underestimated in the currently fragile market environment.
At the end of the trading day, the Infineon papers were the most negatively affected, with a drop of over two percent, followed closely by those of Zalando and SAP. On the other hand, the values of MTU Aero Engines gained the most, with an increase of over three percent, followed by those of Fresenius and BASF.
The European common currency was slightly stronger in the afternoon, with one euro costing 1.0404 US dollars and one dollar being worth 0.9612 euros.
The gold price was weaker, with a fine ounce being sold for 2,850 US dollars (-0.8 percent) at the end of the day, equivalent to a price of 88.08 euros per gram.
The oil price, on the other hand, sank significantly, with a barrel of the North Sea’s Brent type costing 73.16 US dollars at 5 pm German time, a decrease of 88 cents or 1.2 percent from the previous day’s close.