The Dax Index started the trading day on Friday in a weak manner. By 9:30 a.m., the leading index was calculated at around 22,420 points, which was approximately 0.6 percent lower than the previous day’s closing level.
The top performers in the leading index on the morning were MTU Aero Engines, Fresenius and Eon, while the stocks of Siemens Energy, Infineon and BASF formed the bottom of the list.
According to Börsenexpert Thomas Altmann of QC Partners, the US tariff policy primarily affects the mood of investors. “Donald Trump is currently achieving the opposite of what he wants to achieve at the stock market. We see a clear risk-off mood. The classic Trump trades are being unwound. US stocks and the Bitcoin are falling, while the dollar is rising” Altmann said.
The highlight of the day for German investors is likely to be the inflation rate for February. “After the price drop in January, investors and analysts are now expecting a price increase again. The annual rate is expected to remain around two percent” Altmann said. The Dax Index may not be able to escape the selling wave, but in an international comparison, European markets are currently like a rock in the storm, Altmann added.
The European common currency was slightly weaker on Friday morning, with one euro costing 1.0392 US dollars and one dollar being worth 0.9623 euros.
Similarly, the oil price fell, with one barrel of North Sea Brent crude oil costing around 73.42 US dollars at 9 a.m. German time, which was 62 cents or 0.8 percent less than the previous day’s closing level.