German stock market’s DAX index experienced continued downward pressure midday Wednesday, building on a weak opening. Around 12:30 PM local time, the index was calculated at approximately 24,340 points, representing a 0.4 percent decrease from the previous trading day. Leading performers included Deutsche Börse, Deutsche Telekom and Henkel, while Brenntag, Airbus and Porsche lagged behind.
Market analyst Andreas Lipkow noted that investors are largely remaining on the sidelines, awaiting fresh trading signals. He highlighted the upcoming quarterly reports from US retail corporations as potentially significant. Recent data indicates a considerable slowdown in US consumer spending, a vital component of the American economy.
“These corporate earnings reports will provide insights into the current consumer climate in the United States” Lipkow explained. “Overall, trading across Europe is characterized by a calm and cautious atmosphere, with significant price fluctuations remaining infrequent.
The Euro exhibited slight gains in midday trading, reaching 1.1651 US dollars, while one US dollar was valued at 0.8583 Euros.
Meanwhile, oil prices rose, with a barrel of Brent crude costing 66.26 US dollars around noon German time – a 0.7 percent increase, or 47 cents, from the previous day’s closing price.
