The DAX remained in the red after a subdued start to the day and stayed volatile through the afternoon. At 12:30 p.m. local time, the index was at roughly 24,956 points, a 0.1 percent drop from the previous day’s closing level. Siemens Energy and Von Vogt led the gains while Scout 24, Zalando and the Commerzbank fell to the bottom of the list.
Market analyst Andreas Lipkow noted that “the momentum in European financial markets is easing ahead of the release of U.S. employment data”. He added that “clear profit‑taking trends are visible, especially among companies that released earnings today”. Siemens Energy was an exception, as it beat the boldest expectations with its figures. For the Commerzbank, profit‑taking increased after strong quarterly results, though the bank’s operational acceleration had largely already been priced in.
The euro strengthened slightly in the afternoon. One euro bought 1.1914 U.S. dollars, while one U.S. dollar was worth 0.8393 euros.
Oil prices rose sharply. At around 12 p.m. German time, Brent crude from the North Sea fetched $69.84 per barrel on the New York Mercantile Exchange, up 1.5 percent from the previous day’s close.
