European stock markets exhibited modest declines in early trading Friday, with the DAX opening with a loss of approximately 0.2 percent, reaching around 24,240 points as of 9:30 AM local time. Gains were observed in shares of Rheinmetall, Mercedes-Benz and Volkswagen, while Deutsche Post, Siemens Energy and Commerzbank experienced downward pressure.
Market analysts anticipate a relatively quiet trading day, citing a sparse economic data calendar and a slowing pace of corporate earnings reports. Attention is primarily focused on a speech by US Federal Reserve Chairman Jerome Powell at the Jackson Hole economic symposium.
Investors are expected to scrutinize Powell’s remarks for nuanced language pertaining to economic outlook, inflation and potential trade policies.
In currency markets, the Euro weakened slightly, trading at 1.1597 US dollars. Meanwhile, the price of Brent crude oil saw a minor decrease, falling by 0.1 percent to 67.58 US dollars per barrel at approximately 9:00 AM German time.