European markets experienced a subdued trading session on Thursday, with the German DAX index remaining in negative territory throughout the morning. By 12:30 PM local time, the benchmark index was calculated at approximately 23,510 points, representing a 0.7% decline from the previous day’s closing level.
Leading the list of gainers were Commerzbank, Continental and Hannover Rück, while Siemens Energy, Siemens Healthineers and Heidelberg Materials lagged at the bottom.
Market analysts attribute the cautious trading to anticipation surrounding the upcoming release of macroeconomic data from the United States. Prior to the data release, selective buying activity was observed among banking and insurance stocks. Interest was also noted in automotive shares – including Mercedes-Benz, Volkswagen, BMW and Porsche – and utility stocks.
According to market expert Andreas Lipkow, the overall trading picture could shift significantly in the afternoon, potentially influenced by the incoming U.S. economic indicators.
The euro strengthened slightly against the U.S. dollar, trading at $1.1749, with the dollar fetching €0.8511.
Meanwhile, oil prices declined; a barrel of Brent crude was priced at $69.07, a decrease of 24 cents, or 0.4%, compared to the closing level of the prior trading day.