The DAX began the trading day on Wednesday with slight gains. At around 9:30 AM, the leading index was calculated at approximately 26,415 points, putting it 0.1 percent above the previous day’s close. Siemens Energy, Hochtief, and Infineon led the gains, while Beiersdorf, Brenntag, and Adidas finished lower.
Thomas Altmann of QC Partners noted that the focus of the day’s trading was the US inflation rate for July. Investors and analysts anticipated a slight decrease in the annual rate, although inflation is expected to remain substantially above the Fed’s two percent target. He added that a negative surprise could fuel speculation regarding a potential interest rate hike by the Fed.
Meanwhile, the European common currency was slightly weaker in the morning. The euro cost $1.1538, while the dollar was available for 0.8667 euros.
Oil prices, however, increased. At nine AM German time, a barrel of North Sea Brent crude cost $89.71, representing an increase of 80 cents, or 0.9 percent, compared to the end of the previous trading session.
