The DAX started its trading day on Thursday with slight declines. At around 9:30 a.m., the benchmark index was calculated at approximately 24,630 points, marking a 0.4% dip compared to the previous day’s closing level. Leading the stock performance were Qiagen, Merck, and the Porsche Holding, while stocks at the tail end of the performance list included Brenntag, Commerzbank, and Airbus.
Andreas Lipkow, lead market analyst at CMC Markets, suggested that the index was likely to adopt a more measured approach today, following the recent rally. He commented that much of the enthusiasm surrounding a potential near-term deal between the US and Iran had already been factored into the market.
Lipkow pointed out that the focus of the trading day would shift back to macroeconomic data. A number of Purchasing Managers’ Indices (PMIs) from both Europe and the United States are scheduled for release, alongside key US labor market data and construction start figures. Additionally, the analyst noted that the quarterly earnings report season, which featured Nvidia, has concluded, temporarily removing a major catalyst for the coming weeks.
In currency markets, the Euro was weaker on Thursday morning, trading at 1.1601 US dollars. Conversely, the dollar was exchanged for 0.8620 Euros. Meanwhile, oil prices saw an increase; a barrel of North Sea Brent crude cost $106.60 by 9:00 a.m. German time, representing a 1.5% rise from the previous day’s close.
