At 12:30 p.m. on Friday, the DAX traded near 24 895 points-about 0.2 % above yesterday’s close.
“Market participants are relieved that the Greenland issue is now off the table, but the question remains: which US topic will surface next, or which will be reignited?” market analyst Andreas Lipkow said. “So the overall tone for DAX trading remains positive, yet many are holding back ahead of the weekend. With Germany’s reporting season about to begin, we can expect that some surprises-both positive and negative-will arise”.
Lipkow added that the Purchasing Managers’ Indexes released today for Germany and the EU were broadly satisfactory, reinforcing the view that a modest economic recovery could be on the horizon. “We still have a long way to go before fully leaving the valley of economic gloom, and the United States and China are sure to play key roles” he said.
On the currency front, the euro slipped a bit: one euro was worth $1.1735, or one dollar was worth €0.8522. The price of gold fell to $4 921 per fine ounce, a 0.3 % decline, equating to €134.81 per gram. Meanwhile, Brent crude oil experienced a clear uptick, reaching $65.09 per barrel-up 1.6 % from the previous close-at around noon German time.