The DAX experienced slight losses as trading commenced on Thursday. By 9:30 AM, the leading index was calculated at approximately 24,630 points, representing a decline of 0.4 percent compared to the closing level of the previous day. Among the highest-ranking stocks were Qiagen, Merck, and the Porsche Holding, while the lower end of the list included Brenntag, Commerzbank, and Airbus.
Andreas Lipkow, Chief Market Analyst at CMC Markets, noted that the index was likely to start the day cautiously following the recovery rally of recent days. He added that much of the optimism surrounding a potential deal between the US and Iran had already been priced into the market.
According to Lipkow, macroeconomic data will once again dominate the trading agenda. Specifically, a series of purchasing managers’ indices (PMIs) from Europe and the US are scheduled for release, alongside labor market data and US construction starts. The analyst emphasized that the earnings reporting season concluded with Nvidia’s quarterly results, meaning that immediate catalysts for the coming weeks are currently absent.
Meanwhile, global commodity and currency markets saw movement amid the index’s cautious start. The European euro was weaker in the morning, trading at $1.1601 per dollar, while the US dollar was fetching 0.8620 euros. Furthermore, oil prices increased, with a barrel of North Sea grade Brent costing $106.60 against the German time zone at 9 AM. This represented a lift of 1.5 percent over the previous day’s close.