The German stock index, DAX, exhibited a cautious trading pattern on Thursday, holding near its previous close after a slightly positive start. As of 12:30 PM, the index registered approximately 23,810 points, a marginal increase of 0.1 percent from the previous day’s closing value.
Leading the gainers were Infineon, Siemens and Bayer, while Rheinmetall, Siemens Energy and Fresenius experienced declines.
Market analyst Andreas Lipkow attributed the mixed performance to a day of varied signals from Asian markets, influenced by Chinese economic data and trade agreements involving Vietnam and the United States. Lipkow noted that Chinese economic growth appears to remain sluggish and the U.S. is pursuing trade negotiations through “cookie-cutter deals.
The outlook for the Eurozone was uncertain, with Lipkow suggesting a consensus outcome in trade negotiations appeared unlikely. He indicated the possibility of continued tariffs in some form and questioned the ability of European companies to mitigate their impact.
Looking ahead, investors are focusing on upcoming U.S. jobs data, particularly after weak ADP figures released the previous day. With the U.S. observing a shortened trading week for the upcoming national holiday on July 9th, a cautious approach is expected until then, leading to potentially low trading volumes.
The Euro weakened slightly on Thursday afternoon, with one Euro trading at $1.1794 and one US dollar equivalent to 0.8479 Euros.
