The German Dax index continued its downward trend on Friday, staying in the red zone until midday. By 12:30 pm, the index was calculated at around 22,855 points, a 0.6 percent decline from the previous day’s close.
The Dax is largely influenced by technical market mechanisms, according to market analyst Andreas Lipkow. “The trading volume remains relatively low, so it’s easy for market participants today. It’s quite striking how the trading volume has thinned out in recent trading days” he said.
Lipkow also noted that sought-after stocks on Friday included Siemens Energy, Deutsche Telekom, Deutsche Börse and Adidas, while stocks such as Zalando, Infineon and Rheinmetall were being sold.
The European common currency was slightly weaker in the afternoon, with one euro exchanging for 1.0838 US dollars and one dollar for 0.9227 euros.