The Dax was able to partially recover its losses from the morning by midday, but remains in the red. By around 12:30, it had registered around 22,485 points, 0.3 percent below the closing level of the previous day.
MTU managed to build on its good position from the morning and led the main index at midday, followed by BASF and Beiersdorf, while Infineon, Siemens Energy and Sartorius were at the lower end.
Analyst Andreas Lipkow is skeptical about the slight recovery, saying, “All negative news and impulses are being ignored once again. The below-expectation retail sales and the higher-than-expected import prices in Germany are not playing a role at the moment.”
Investors are instead focusing on the few promising companies in the Dax and the topic of tariffs is being ignored. “We can look forward to the upcoming macroeconomic data, including the US consumer spending, personal income, US PCE deflation and the US market opening” the expert said.
The European common currency was slightly stronger in the afternoon: one euro cost 1.0399 US dollars and one dollar was worth 0.9616 euros, accordingly.
Meanwhile, the oil price sank significantly: a barrel of the North Sea’s Brent type cost around 12:00 pm Central European Time, 73.02 US dollars, which is 102 cents or 1.4 percent less than the closing level of the previous trading day.