The German DAX index experienced a slight decrease on Thursday, closing at 24,040 points – a marginal decline from the previous day’s closing value. Initial trading saw positive momentum, but the index shifted downwards around midday, only briefly recovering ground in the afternoon.
Market analyst Andreas Lipkow noted that recent US economic data contributed to market dynamics. “Both the US GDP figures and initial jobless claims were stronger than expected” he commented. “The US economy grew by 3.3 percent in the second quarter and initial claims were slightly lower than anticipated, collectively indicating continued economic resilience”. He added that the pace at which the US Federal Reserve might lower interest rates remains a point of observation, with a 25 basis point reduction potentially occurring in September.
Shares of Siemens and Sartorius performed strongly throughout the trading day, appearing near the top of the performance rankings close to closing. Qiagen shares, conversely, were positioned at the lower end of the scale.
Energy markets also saw movement. The price of gas decreased, with a megawatt hour (MWh) for September delivery costing 23 euros – a 2 percent drop from the previous day. Sustained at this level, this translates to a consumer price of approximately eight to nine cents per kilowatt hour (kWh), including additional costs and taxes.
Oil prices similarly declined, with a barrel of Brent crude trading at $67.74 – a decrease of 31 cents, or 0.5 percent, from the previous day’s close.
The Euro strengthened against the US dollar on Thursday afternoon, reaching a value of 1.1665 US dollars. This equates to a dollar value of 0.8573 euros.