The DAX opened the trading day on Tuesday with slight losses. At 9:30 a.m. it was calculated at around 24,989 points, down 0.1 percent from the previous close. On the top of the performance list were Symrise and BASF, while Siemens Energy and Allianz were at the bottom of the index.
After turbulence in the precious‑metal and cryptocurrency markets, investors are refocusing on company fundamentals and upcoming economic data, said Andreas Lipkow, chief market analyst at CMC Markets. “The disruptive factors of the past week are fading, geopolitical tensions are becoming less of a concern, and market volatility is slowly returning to its normal range. Financial markets are becoming more tradable and creating a more positive investment climate”.
With a relatively quiet data calendar for Tuesday, U.S. labor‑market figures scheduled for Wednesday enter the spotlight. “The U.S. labor market has recently shown signs of weakness and sparked fears of an economic slowdown in the United States” Lipkow explained. “The retail data due this afternoon in the U.S. may provide a small indication of what’s to come”.
The euro fell slightly in the morning. One euro cost 1.1905 U.S. dollars, which translates into a dollar at 0.8400 euros.
Meanwhile, oil prices edged lower. A barrel of North Sea Brent was trading at about 68.92 U.S. dollars around 9 a.m. German time, down 12 cents or 0.2 percent from the previous closing price.