The Dax is expected to open little changed on Thursday, according to price action in the futures markets. On Wednesday, the German benchmark index closed 1.4 percent higher at 24,737.24 points. Market sentiment was bolstered by gains in chip stocks and the absence of further escalation in the Iran conflict. Wall Street also trended upwards.
On Thursday, the EU Commission is likely to lower its growth forecast in light of the oil price shock. EU Economic Commissioner Valdis Dombrovskis has already signaled this move ahead of the upcoming spring forecast.
Furthermore, foreign ministers from the 32 NATO member states are gathering in Helsingborg, Sweden, for two days of consultations. The meeting will focus on the Russian war of aggression against Ukraine and the strengthening of defense cooperation.
Regarding economic data, investors are looking toward the Purchasing Managers’ Indices (PMI) for the Eurozone and the US, as well as consumer confidence figures for the Eurozone in May.
On the corporate front, Nvidia is expected to take center stage. The growing demand for high-performance processors for Artificial Intelligence (AI) provided the group with another growth surge. Nevertheless, the shares eased slightly in after-hours US trading.
The agenda also features numerous annual general meetings. Companies holding their annual investor gatherings include Fresenius Medical Care, Vonovia, Lanxess, and Hugo Boss.
Closing prices of European Level
Equity Indices and
Futures on Wednesday
Dax 24,737.24
EuroStoxx50 5,976.07
EuroStoxx50-Future 5,979.00
———-
Closing prices of Level Change in
US Indices on Wednesday Percent
Dow Jones 50,009.35 +1.3%
Nasdaq
S&P 500 7,432.97 +1.1%
———-
Asian Indices on Prices at 07:00 Change in
Thursday CET Percent
Nikkei 61,886.47 +3.5%
Shanghai 4,162.37 MISSING
CONDITION0.0%
Hang Seng 25,648.28 +0.0%
(Report by Sanne Schimanski, Daniela Pegna. For inquiries, please contact our editorial office at berlin.newsroom@thomsonreuters.com (for politics and economics) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)