The German DAX index experienced a decline on Thursday, closing at 24,065 points – a decrease of 0.8 percent compared to the previous day’s closing value. Following a positive start to the trading day, the index shifted into negative territory mid-morning and continued its downward trend throughout the session.
Market analyst Andreas Lipkow attributed the downturn, in part, to the release of official US labor market data. These figures indicated a robust and stable employment landscape, with initial jobless claims slightly lower than anticipated. Lipkow noted that rising personal incomes, coupled with a PCE deflator exceeding expectations, suggest a discernible tendency towards price increases, a factor previously signaled by earlier market data and currently under observation by the US Federal Reserve.
Within the Frankfurt stock exchange, shares of Symrise and Heidelberg Materials led the performance until shortly before the market’s close. Conversely, Adidas, Zalando and Siemens Healthineers were among the worst-performing stocks.
In the energy sector, natural gas prices saw a slight increase. A megawatt-hour (MWh) of gas for delivery in September was priced at 35 euros. This level implies a potential consumer price of at least eight to ten cents per kilowatt-hour (kWh), inclusive of additional costs and taxes, should the price remain consistent.
However, crude oil prices significantly decreased. Brent North Sea crude traded at $72.48 per barrel, representing a decrease of 76 cents or 1.0 percent from the previous day’s closing value.
The Euro strengthened against the US dollar, reaching a value of 1.1438, with one dollar equivalent to 0.8743 euros.