The DAX remained in the red on Wednesday after a cautiously muted opening, continuing its volatility into the afternoon. At 12:30 p.m. German time the index was calculated at 24,956 points, slightly down 0.1 % from the previous day’s close. The top names on the day’s chart were Siemens Energy and Vonovia, while the bottom of the list included Scout 24, Zalando and Commerzbank.
Market analyst Andreas Lipkow noted that “the dynamics in European financial markets are easing slightly ahead of the release of U.S. employment data”. He added that clear opportunities for profit‑taking are evident, particularly among firms that disclosed quarterly results today. Siemens Energy stood out as an exception; its numbers even outperformed the most ambitious expectations. For Commerzbank, profit‑taking has increased following its strong quarterly performance, even though much of the operational momentum had already been priced in ahead of the announcement.
The euro was marginally stronger in the afternoon session: one euro bought 1.1914 U.S. dollars, while one dollar was worth 0.8393 euros.
Oil prices climbed significantly in the meantime. Around noon German time a barrel of North Sea Brent fetched 69.84 U.S. dollars, 1.5 % higher than the previous trading day’s close.