European Stocks and Currencies Experience Mixed Signals on Thursday
The German Dax index closed lower on Thursday, with a 0.5% decline to 23,999 points at the Xetra market close. The day’s top performers were Siemens Energy, Bayer and Commerzbank, while Porsche, Merck and Heidelberg Materials ended at the bottom of the list.
Market expert Andreas Lipkow attributed the mixed signals to the recent European economic data, which highlighted the current economic situation’s weakness while also reflecting optimism for the near future. However, he noted that critical signs are emerging, casting doubt on the likelihood and potential outcome of a soon-expected economic upturn.
The euro was weaker against the US dollar on Thursday, with one euro trading at 1.1288 US dollars and one US dollar worth 0.8859 euros.
Oil prices also fell, with a barrel of Brent crude from the North Sea trading at 64.30 US dollars at 5 pm CET, a 0.9% or 61-cent decline from the previous day’s close.