Dow Jones-after a cautious start of trade, the European stock markets went up a bit on Thursday. The DAX increased by 0.3 percent to 23,704 points, the Euro Stoxx-50 rose 0.5 percent to 5,387 points. With a view of France, the investors were a bit more relaxed after the recent development, the CAC-40 increased by 0.8 percent. Neither the European Central Bank (ECB) nor the US consumer prices provided greater surprises, at most the weekly initial applications on unemployment aid was significantly higher than expected.
ECB session largely unspectacular
As expected, the ECB left its key interest unchanged. The adaptations of the projections for Martin Moryson, chief economist of the DWS, were also more of a technical nature. Inflation is where the ECB wants to have. The European economy has proven to be more resistant than expected by many. The risks, in particular those for inflation, are more balanced than before, among other things, because the EU has “dispensed with” retaliation tariffs against the USA. If the economic situation does not deteriorate significantly, it must be assumed that the ECB is through its interest reductions and now decide from the session to session depending on the data.
ECB President Christine Lagarde’s political and diplomatic talent were challenged when the question of France was asked. She pointed out the advantages of the fiscal rules. In addition, the markets for European government bonds worked excellently: properly, smoothly, equipped with plenty of liquidity. In addition, she spoke to the politically responsible in conscience that in these globally uncertain times national politics should not create further uncertainty.
In the meantime, the inflation pressure rose something in the United States, and according to the economics bank, the US Federal Reserve will still reduce the key interest in the coming week. The price pressure increased in August. The consumer price index rose by 0.4 percent compared to the previous month. The core index, which is more meaningful for the underlying inflation pressure – i.e. consumer prices without food and energy – increased by 0.3 percent. Some particularly import -dependent product groups showed a continued increase in price, apparently the effects of the tariffs are gradually becoming more visible, it said.
Merz statements burdened industry substances for renewable
Chancellor Friedrich Merz’s recent statements for the Jefferies analysts pointed out that there is a possible slowdown in the expansion of renewable energies. In an article from “Notarge” it was said that Merz indicated that Germany could slow down the expansion of renewable energies. On the stock exchange, values such as Siemens Energy went down by 1.1 percent and Nordex by 5.9 percent.
At Covestro, press reports on an agreement between the EU and ADNOC to take over the course by 7.9 percent. The stock crashed last week after there had been problems.
In addition, circumstances and analyst comments caused movements. Heidelberg made materials in the DAX by 2.5 percent after JP Morgan had a positive comment on the building materials sector. Heidelberg Materials remains the “Top Pick” in the sector, according to the analysts. ADECCO rose by 0.3 percent after Jefferies increased the title of “Under Perperform” to “Hold”. Aurubis fell by 0.7 percent – burdened by a gradation of Baader Helvea.
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Index End Development in % since the beginning of the year*
Euro-stoxx-50 5,386.77 +0.5% +9.5%
STOXX-50 4,577.67 +0.5% +5.7%
STOXX-600 555.33 +0.6% +8.8%
Xetra-Dax 23,703.65 +0.3% +18.7%
FTSE-100 London 9,225.39 KA +11.6%
CAC-40 Paris 7.823.52 +0.8% +5.2%
AEX Amsterdam 905.73 +0.5% +2.6%
Athex-20 Athens 5,136.78 +0.4% +43.3%
BEL-20 Bruessel 4,798.09 +0.3% +12.2%
Bux Budapest 102,284.12 +0.7% +28.0%
OMXH-25 Helsinki 5.061.51 +0.7% +16.4%
Isse nat. 30 Istanbul 10,382.89 KA +7.7%
OMXC -20 Copenhagen 1,540.68 -0.8% -26.1%
PSI 20 Lisbon 7,754.89 +0.3% +21.2%
IBEX-35 Madrid 15,321.30 +0.7% +31.2%
FTSE-MIB Milan 42,432.42 +0.9% +23.0%
OBX Oslo 1,575.77 -0.0% +18.5%
PX Prague 2,293.85 +0.1% +30.1%
OMXS-30 Stockholm 2,635.91 +0.3% +5.9%
WIG-20 Warsaw 2,855.75 +1.6% +28.3%
ATX Vienna 4,645.10 +0.3% +26.4%
SMI to 12,292.72 +0.6% +5.3%
*based on the previous day
Foreigners last +/- % 0:00 Thu, 5:06 pm % YTD
EUR/USD 1.1736 +0.3% 1.1701 1.1730 +12.9%
EUR/JPY 172.60 +0.1% 172.49 172.73 +5.9%
EUR/CHF 0.9339 -0.1% 0.9346 0.9339 -0.4%
EUR/GBP 0.8646 -0.0% 0.8648 0.8653 +4.5%
USD/JPY 147.06 -0.2% 147.41 147.25 -6.3%
GBP/USD 1.3574 +0.3% 1.3531 1.3556 +8.1%
USD/CNY 7,0922 -0.0% 7.0933 7.0938 -1.6%
USD/CNH 7.1145 -0.1% 7.1183 7.1173 -2.9%
From/USD 0.6659 +0.7% 0.6612 0.6647 +6.8%
Bitcoin/USD 114,383.50 +0.4% 113,897.60 114,546.90 +20.3%
Row oil last VT-Settlem. +/- % +/- USD % YTD
WTI/Nymex 62.42 63.67 -2.0% -1.25 -11.4%
Brent/ICE 66.35 67.49 -1.7% -1.14 -9.7%
Metals last the last day +/- % +/- USD % YTD
Gold 3,636,46 3,642.65 -0.2% -6.19 +38.7%
Silver 41.62 41.18 +1.1% 0.44 +42.6%
Platin 1,182.90 1,188.03 -0.4% -5.13 +35.7%
Copper 4.65 4.62 +0.7% 0.03 +13.2%
YTD based on the final score of the previous day
(Information provided without guarantee)
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DJG/THL/ROS
(End) Dow Jones Newswires
September 11, 2025 12:15 ET (16:15 GMT)