The performance of the Dax remained in negative territory on Thursday, continuing a weak trend that began early in the trading session. As of approximately 12:30 PM, the index stood at around 25,000 points, reflecting a 0.6 per cent decrease compared to the previous trading day. On the list of top gainers were Daimler Truck, Rheinmetall, and BASF, while Infineon, Commerzbank, and Symrise registered the steepest declines.
Market expert Andreas Lipkow noted that investors are currently being inundated with a constant stream of new trading impulses and data. He pointed out that besides quarterly results from major firms like Alphabet, Tesla, IBM, and ServiceNow, the financial movements were also being driven by reports from companies such as Traton, Deutsche Börse, Nestlé, Roche, and Givaudan. While the varying sectoral and industry effects were clearly evident on Thursday, these trends were largely overshadowed by the secondary impacts of high energy prices on raw material companies.
Lipkow further advised that statements and the interest rate decision from the European Central Bank (ECB) in the coming hours could completely redefine market sentiment. Although no rate hike is expected in July, the ECB’s commentary regarding its inflation assessment is considered highly significant.
In peripheral market movements, the Euro strengthened slightly on Thursday afternoon, trading at 1.1410 US dollars, while the dollar fetched 0.8764 Euros. Meanwhile, oil prices rose; a barrel of North Sea Brent crude cost $98.28 around noon German time, marking a 4.5 per cent increase from the close of the preceding trading day.
