The German stock market got off to a friendly start in the morning, but the mood quickly turned. At 12:30 p.m., the Dax was trading at around 15,400 points, down 0.5 percent from the previous day’s close.
Commenting on market events, market expert Andreas Lipkow noted that market participants remained unsettled, which was increasingly reflected in the price movements of the Dax. Early opening gains were increasingly used for profit-taking, as the mixed situation currently did not provide a clear picture. The hope for an imminent global economic recovery was the fuel for the recent price gains. However, the macroeconomic level is waiting to back up these assumptions with resilient facts. Instead, data on economic and price developments are frequently revised downward.
On Friday afternoon, the European single currency trended somewhat weaker. One euro cost 1.0579 U.S. dollars (-0.15 percent), while a dollar was accordingly for 0.9452 euros.