Equities in Frankfurt experienced a muted trading session Thursday, with the benchmark DAX index relinquishing much of its initial gains by midday. The index was calculated around 12:30 PM at approximately 24,290 points, a marginal 0.1 percent increase compared to the previous day’s closing level.
Symrise, Porsche and Heidelberg Materials led the list of gainers, while Siemens Healthineers, Zalando and Adidas closed among the underperformers.
Market analyst Andreas Lipkow commented on the lack of sustained momentum within the DAX, attributing the fluctuations to portfolio adjustments occurring at the end of the first half of the year, currently impacting equities. A shift in investor focus towards bonds was also observed as a precautionary measure against potential repercussions stemming from ongoing US trade policies.
“It remains unclear whether the trade policy uncertainties are fully resolved or if further repercussions are yet to be seen” Lipkow stated. Upcoming US labor market data and a series of quarterly reports are expected to be closely watched for indications of future market direction.
The euro strengthened to $1.1434 against the US dollar at midday, with the dollar trading at €0.8746.
Meanwhile, crude oil prices declined. Brent North Sea crude was priced at $72.74 per barrel around noon German time, representing a decrease of 50 cents or 0.7 percent compared to the close of the previous trading day.
