German equities began the trading day Friday with modest losses. By approximately 9:30 AM local time, the DAX index was calculated at around 24,240 points, representing a decrease of 0.2 percent from the previous day’s closing level.
Leading the gains were shares of Rheinmetall, Mercedes-Benz and Volkswagen. Conversely, Deutsche Post, Siemens Energy and Commerzbank experienced declines.
Market analyst Andreas Lipkow anticipates a relatively quiet trading session. The economic calendar remains sparse and the earnings season is slowing. “The only noteworthy event today is the speech by US Federal Reserve Chairman Jerome Powell at the central banking conference in Jackson Hole” he stated.
Investors will be closely scrutinizing the nuances of Powell’s remarks for potential implications regarding economic development, inflation and tariffs, according to Lipkow.
The Euro weakened slightly against the US dollar Friday morning, trading at 1.1597 US dollars. The dollar was valued at 0.8623 Euros.
Oil prices saw a slight decrease. A barrel of Brent crude was trading at 67.58 US dollars around 9:00 AM German time, down 9 cents, or 0.1 percent, from the previous day’s close.
