On Thursday, the Dax experienced a decline. At the close of trading on Xetra, the index stood at 24,915 points, representing a drop of 0.3 percent compared to the previous day’s close. Companies leading the list included Symrise, Beiersdorf, and Gea, while Infineon, Siemens Energy, and Eon were among those at the bottom.
Andreas Lipkow, Chief Market Analyst at CMC Markets, commented, “Until noon, the 25,000-point mark still seemed like a magnet, stopping the Dax from moving more than 100 points higher. However, momentum shifted downward. A weaker Wall Street contributed to continued profit-taking observed in Frankfurt over the past few days.”
Lipkow also noted the visible signs of fatigue in the stock market, suggesting that the positive momentum seen in the first half of the year is currently waning. He highlighted that the question surrounding the continuation of the semiconductor cycle remains unresolved, leading to high nervousness. Furthermore, he warned that upcoming quarterly reports from technology and semiconductor companies could easily put pressure on the entire sector, as even minor disappointments from a single firm could have a widespread impact. Consequently, he advised that investors are maintaining a cautious approach, positioning themselves near the sidelines.
In global markets, the European common currency weakened slightly on Thursday afternoon; the Euro exchanged at 1.1441 US dollars, meaning the dollar cost 0.8740 Euros. Meanwhile, the price of oil saw a slight increase. A barrel of North Sea Brent crude was trading at $85.00 around 5 p.m. German time, an increase of 5 cents, or 0.1 percent, over the close of the previous trading day.
