The Dax index experienced a continued downward trend throughout Friday’s trading session, remaining in negative territory until midday. Around 12:30 PM, the leading index was calculated at approximately 24,155 points, representing a 0.6 percent decline from the previous day’s closing level.
Market analyst Andreas Lipkow noted that investors were drawing support from the automotive sector as the week concluded. He characterized Volkswagen’s recently released quarterly results as having a calming effect on the industry, despite a decline in profits. Interestingly, Volkswagen shares climbed to the top of the ranking, defying the overall negative performance.
Lipkow suggested a growing sentiment that the automotive sector may be nearing a trough, emphasizing that future developments will be heavily influenced by the outcome of trade negotiations between the EU and the United States.
He further commented that the Ifo business climate index continues to reflect a cautious outlook, with a lack of demonstrable optimism. Market participants are now keenly awaiting data releases from the United States.
The Euro weakened slightly on Friday afternoon, trading at $1.1736, with the dollar fetching €0.8521.
