30 a..m. German time – roughly 0.9 % higher than the previous day’s close. In the top‑ranked stocks were Siemens, Commerzbank, Deutsche Telekom and Continental, while Symrise and Mercedes‑Benz trailed the list. The carmaker disclosed a sharp decline in profit for the year that ended yesterday, and it will consequently reduce its dividend.
Chief market analyst Andreas Lipkow of CMC Markets warned that investors would face a mix of conflicting signals. He said that the U.S. labour‑market figures released on Wednesday require a very detailed look to piece together a coherent picture of the American economy. Although the data initially exceeded expectations, subsequent revisions have often painted a very different picture. Therefore, the first‑time claims for unemployment benefits scheduled for today are likely to carry more weight.
Lipkow also noted that Europe is showing a stabilisation at a modest level of economic activity, evident in many quarterly results. Yesterday’s figures from Siemens Energy and Commerzbank, as well as today’s early releases from Siemens, underscore this trend. Nevertheless, Europe’s economy remains heavily dependent on the markets in China and the United States. Additionally, EU defence spending is emerging as a significant extra driver behind this economic steadiness.
The euro finished Thursday morning a touch stronger: one euro was worth 1.1880 USD, while one U.S. dollar traded at 0.8418 EUR.
Meanwhile, oil prices climbed. A barrel of Brent crude fetched $69.65 at about 9 a.m. GMT, up 25 cents – or 0.4 % – from the close on the previous trading day.