DOW JONES–The European stock markets turned slightly positive by midday on Thursday. Now that the Oracle scare has been digested, at least by the market as a whole, the US Federal Reserve’s monetary policy decision from the previous evening has had a somewhat supportive effect. As expected, the key interest rate was reduced by 25 basis points to 3.50 to 3.75 percent. Fed Chairman Jerome Powell has made it clear that a further reduction is not initially expected. Nevertheless, Deutsche Bank has identified various dovish elements in the decision. Although the forecasts for real economic growth for the years 2025 to 2027 have been revised upwards slightly, expectations for core inflation have been lowered. As the analysts further note, one will Interest rate cut in March now priced in with a probability of 52 percent.
The DAX gains 0.2 percent to 24,168 points. The Euro-Stoxx-50 rose more strongly by 0.5 percent, thanks to rising bank stocks. The euro rose above $1.17 after the Fed decision and was trading at $1.1713 at midday. The bond markets are volatile, but overall little has changed. Meanwhile, the Swiss National Bank (SNB) has its in the morning monetary policy as expected, left it unchanged and lowered its inflation and growth forecasts slightly. As she announced, the key interest rate remains at 0 percent, where it has been since June. The SNB remains ready to intervene in the foreign exchange market if necessary.
Technology stocks are down 0.4 percent despite the interest rate cut. According to figures, Oracle’s share price fell by around 12 percent in after-hours US trading. Oracle had exceeded profit expectations, but not sales. Oracle still wants to increase investments in data centers more than previously planned. In addition, market participants warn that the company is becoming too dependent on “OpenAI”. SAP shares fell sharply by 2.6 percent.
According to business figures, Carl Zeiss Meditec is volatile and has lost 5 percent by midday. As JP Morgan notes, there is something for both bulls and bears. The bears are likely to be particularly bothered by the deterioration in margins, according to analysts. The forecast is also not convincing. JP Morgan sees a need for downward revisions in both sales and EBITA.
At Rheinmetall it is 0.9 percent higher. The analysts at Bernstein comment that a bear scenario is almost being priced in here. Accordingly, they increase the rating to “Outperform”. Nordex is firmly in the market with an increase of 2.3 percent to 29.14 euros. Kepler Cheuvreux has added the share to its buy list with a price target of 32 euros. In addition, market participants continue to point to the re-entry into the US market with the order from Alliant Energy – announced on Wednesday.
Givaudan falls back 8 percent. The group is holding its pre-close roundtable on the annual results. According to reports on the market, the company points to weaker market conditions for flavors. The annual forecast for sales has not been confirmed. In the wake of this, Symrise fell by 2.8 percent.
Schneider Electric gains 3.3 percent. “The statements from Capital Market Day are well received,” said one market participant. The group is planning a share buyback program worth 2.5 to 3.5 billion euros. In terms of sales, he is planning organic growth of 7 to 10 percent annually in the medium term.
In the fashion sector, Brunello Cucinelli rose 3.3 percent and was as high as it was last in September. The group has raised its outlook. In the current financial year, he now expects sales to grow by 11 to 12 percent instead of around 10 percent previously.
===
INDEX last +/- % absolute +/- % YTD
Euro Stoxx 50 5,738.12 +0.5% 30.00 +16.6%
Stoxx-50 4,833.03 +0.4% 20.05 +11.7%
DAX 24,167.77 +0.2% 37.63 +21.2%
MDAX 29,669.51 -0.2% -63.14 +16.2%
TecDAX 3,548.82 -0.6% -19.69 +4.4%
SDAX 16,801.90 -0.1% -17.29 +22.7%
CAC 8,056.78 +0.4% 34.09 +8.7%
SMI 12,917.34 -0.0% -4.14 +11.4%
ATX 5,130.10 +0.0% 0.20 +40.0%
FOREX last +/- % 0:00 Tue, 19:30 % YTD
EUR/USD 1.1716 +0.2% 1.1695 1.1623 +12.9%
EUR/JPY 182.22 -0.1% 182.47 182.38 +12.0%
EUR/CHF 0.9327 -0.3% 0.9356 0.9374 -0.3%
EUR/GBP 0.8750 +0.1% 0.8740 0.8739 +5.6%
USD/JPY 155.53 -0.3% 156.02 156.92 -0.8%
GBP/USD 1.3390 +0.1% 1.3381 1.3300 +6.9%
USD/CNY 7.0682 -0.1% 7.0730 7.0751 -1.9%
USD/CNH 7.0557 -0.1% 7.0624 7.0618 -3.7%
AUS/USD 0.6655 -0.2% 0.6671 0.6636 +7.8%
Bitcoin/USD 90,228.25 -2.5% 92,577.60 94,013.90 -2.3%
CRUDE OIL most recently VT-Settlem. +/-% +/- USD% YTD
WTI/Nymex 57.75 58.46 -1.2% -0.71 -18.3%
Brent/ICE 61.46 62.21 -1.2% -0.75 -16.5%
METALS last day previous +/- % +/- USD % YTD
Gold 4,217.61 4,228.65 -0.3% -11.04 +61.1%
Silver 62.17 61.83 +0.6% 0.34 +114.0%
Platinum 1,426.35 1,419.84 +0.5% 6.51 +62.1%
Copper 5.33 5.28 +1.0% 0.05 +29.6%
YTD based on the previous day’s closing level
(Information provided without guarantee)
===
Contact the author: [email protected]
DJG/mpt/flf
(END) Dow Jones Newswires
December 11, 2025 07:54 ET (12:54 GMT)