Stocks in DAX begin with a slight decline, boosted by a stronger Euro exchange rate
The Frankfurt Stock Exchange began the day with slight losses on Thursday, primarily due to seasonal weakness typical for August and September, and cautious investor sentiment ahead of key central bank events such as the upcoming Fed and ECB speeches at the Jackson Hole conference. Market participants are also digesting earnings reports, profit warnings, and broader economic uncertainties.
The top performers on the exchange included Delivery Hero, Adidas, and Henkel. While there is no recent detailed data from the search results on Delivery Hero's exact Thursday performance, the company operates in a competitive sector where market sentiment can be cautious due to growth concerns and competition in e-commerce. Adidas has been a notable underperformer, down about 29% year-to-date, weighed down by uncertainty over US tariffs, weakness in end markets, and a stronger euro reducing foreign revenue. Henkel's performance is not detailed in the search results, but given the general market caution and sector-wide challenges, it would likely have faced subdued investor interest amid broader downward trends.
At the bottom of the list were Fresenius, BASF, and Covestro. No direct information is provided for Fresenius' recent movements. It is a healthcare company that can be affected by regulatory and economic conditions, which might have contributed to some pressure in the absence of strong positive catalysts. Both BASF and Covestro are involved in chemicals and materials, sectors which have seen mixed signals due to weak demand in Europe.
At around 09:30, the DAX was calculated at around 13,300 points, showing a decrease of 0.1 percent from the previous day's close. The European common currency was slightly stronger on Thursday morning. The price of gold increased, with one ounce of gold trading at 1,841.03 US dollars (+0.55 percent), equivalent to 48.77 euros per gram. The exchange rate between one euro and one US dollar was 1.2136 USD (+0.19 percent), and the exchange rate between one dollar and one euro was 0.8240 euros. No new information about the sentiments of investors was provided.
In the context of the Frankfurt Stock Exchange, Delivery Hero, a company operating in the competitive e-commerce sector, might have faced cautious sentiment due to growth concerns and market competition. Amidst broader downward trends and sector-wide challenges, Henkel, another company listed on the exchange, would likely have experienced subdued investor interest.
