30 AM local time, the index stood at approximately 23,850 points, representing a 0 Around 9:30 AM local time, the index stood at approximately 23,850 points, representing a 08 percent decrease from the previous day’s closing value Leading the gains were Continental, Rheinmetall and Qiagen, while FMC, Bayer and Vonovia registered the steepest declines
Market analysts note a lack of significant momentum following the extended weekend in the United States CMC Markets’ Chief Market Analyst, Jochen Stanzl, observed low volatility and comparatively thin trading volumes, suggesting markets have yet to fully return from the summer lull He highlighted the importance of the 24,000-point level, noting that failure to decisively break below it could trigger a “short squeeze” and a subsequent rally
Speculation regarding which markets will benefit most from potential interest rate cuts by the US Federal Reserve continues, with gold emerging as a primary beneficiary, reaching new record highs However, analysts caution that any potential cut will likely be overshadowed by ongoing concerns surrounding the independence of the Federal Reserve and the persistent nature of core inflation-currently more than 40 percent above the Fed’s 2 percent target
Despite anticipation of a September rate reduction, analysts suggest stronger labor and inflation data may not significantly alter expectations Investors are, therefore, continuing to bet on further gains for gold Regarding equities, a period of increased volatility is expected due to seasonal weakness and high valuations, particularly as September historically represents one of the weakest months for stock markets
Currency markets saw the Euro weaken slightly, trading at 11677 US dollars, while the dollar was valued at 08564 Euros
Oil prices increased; Brent crude was trading at 6870 US dollars per barrel around 9:00 AM CEST, a gain of 55 cents, or 08 percent, from the previous session’s close