Equities on the DAX index experienced a muted trading day Friday, shifting into positive territory by midday after a weak initial start. Around 12:30 PM local time, the benchmark index was calculated at approximately 24,325 points, representing a gain of 0.1 percent compared to the previous day’s closing level.
Leading the gains were shares of Merck, Sartorius and Zalando. Conversely, Eon, Heidelberg Materials and Commerzbank posted losses.
Market analyst Andreas Lipkow noted a lack of significant momentum, describing trading as sluggish ahead of the weekend. Recently released German GDP data initially prompted some disappointment, but expectations for weak figures were already largely factored into market sentiment. Attention has now turned to a speech by US Federal Reserve Chair Jerome Powell, which is anticipated to influence market direction.
The Euro experienced a slight weakening against the US Dollar on Friday afternoon. The single currency traded at 1.1599 US Dollars, with the Dollar priced at 0.8621 Euros.
Meanwhile, oil prices declined. A barrel of Brent crude was trading at 67.51 US Dollars around midday German time, a decrease of 16 cents, or 0.2 percent, from the previous day’s close.