The Dax index has reduced its initial losses by midday on Wednesday. By 12:30 pm, the leading index was calculated at around 21,495 points, 0.1 percent lower than the previous day’s close. Siemens Energy, Vonovia and Zalando led the stock market’s top performers, while Volkswagen, Porsche and Continental lagged behind.
“Investors remain cautious and wait for further actions from the current US administration regarding the future of US foreign trade policy” said market expert Andreas Lipkow. So far, countries such as China, Canada, Mexico, Colombia and Panama have been in the spotlight. “It’s only a matter of time before the focus shifts to the Euro Stoxx” Lipkow added.
“Market participants are waiting for the macroeconomic US data in the form of ADP and trade balance figures” the expert continued. “Additionally, the ISM data from the US is likely to attract attention.” Meanwhile, Uber’s quarterly reports are also being closely watched.
The European common currency was stronger in the midday trading session, with one euro equivalent to 1.0418 US dollars and one dollar to 0.9599 euros.
The oil price, on the other hand, fell: a barrel of North Sea Brent was trading at around 75.59 US dollars by 12 pm German time, a 61-cent or 0.8 percent decrease from the previous day’s close.