The German DAX index experienced a decline on Friday, closing at 24,378 points, reflecting a decrease of 0.2 percent compared to the previous day’s close. Trading activity appeared subdued, with market participants exhibiting caution and focusing primarily on defensive sectors and the technology space. While a degree of reluctance was present, some investors demonstrated willingness to acquire shares in cyclical industries. This spurred gains for companies including BASF, Daimler Truck, Continental and Mercedes-Benz.
The potential for a US government shutdown has temporarily suspended the release of key economic indicators and labor market data. Analyst Andreas Lipkow noted this uncertainty has already impacted market sentiment, removing official initial unemployment claims figures from the day’s agenda. The US services sector Purchasing Managers’ Index (PMI) also fell short of market expectations, mirroring a similar trend observed in Europe. Trading volume remained thin but balanced overall.
The Euro strengthened slightly during Friday afternoon, trading at $1.1738, equivalent to €0.8519 per US Dollar.
The price of gold benefited from the market conditions, reaching $3,889 per fine ounce (+0.8 percent), which translates to €106.51 per gram.
Crude oil prices saw a notable increase. Brent North Sea crude futures were priced at $64.77 per barrel, an increase of $0.66 or 1.0 percent compared to the previous trading day’s close.
