On Thursday, the DAX slipped, closing at 25,044 points, a 0.9 % decline from the previous day’s close. After an already weak start, the index widened its losses.
CMC Markets’ chief market analyst Andreas Lipkow remarked that the DAX had to give up all its gains from the past 24 hours and had once again chased the 25,000‑point level. “Companies’ balance sheets-including Airbus-also contributed to the fall. While Airbus reported solid numbers, it failed to convince investors with its outlook for the current fiscal year” Lipkow said. He added that, overall, sentiment at the Frankfurt exchange was not bad, but the trade was mainly dominated by broad profit‑taking on individual stocks.
Lipkow described the latest U.S. economic data as painting an “incredibly mixed picture”. The trade deficit widened by $70.3 billion versus the expected $55.5 billion, a result that, in light of U.S. trade protectionism, gives a bleak overall view. In contrast, the Philadelphia Fed Index moved up more than anticipated, though it should not be overvalued in the broader context.
Before market close, the shares of Rheinmetall and Scout 24 were at the top of the daily movement list, while Airbus stocks lagged behind.
Gas prices climbed. A megawatt‑hour (MWh) of gas for March delivery cost €33, up five % from the previous day. If this level persists, the consumer price-including fees and taxes-would be roughly €0.08 to €0.10 per kilowatt‑hour.
Oil saw a notable rise. At around 5 p.m. German time Thursday, Brent crude from the North Sea fetched $71.63 a barrel, 1.8 % higher than the closing price the day before.
The euro weakened slightly in the afternoon. One euro traded at $1.1763, meaning one U.S. dollar was equivalent to €0.8501.