FRANKFURT (dpa-AFX) - Siemens shares only temporarily gave the DAX the momentum it needed to climb back above the 25,000-point mark on Thursday. In the late afternoon, the substantial gains in Siemens stock faded significantly. As U.S. markets increasingly weakened during trading, this also weighed on Germany's leading index. Ultimately, it ended the day down 0.01 percent at 24,852.69 points.
The MDAX, which tracks mid-cap German stocks, lost 1.60 percent to close at 31,113.70 points. The EuroStoxx 50 and Switzerland's SMI reached record highs before also closing somewhat weaker. The leading index for the eurozone ended trading down 0.40 percent at 6,011.29 points. Losses were also recorded in London.
In the U.S., the best-known Wall Street index, the Dow Jones Industrial, slipped into negative territory after a positive start, falling 1.0 percent by the close of European trading. The tech-heavy Nasdaq 100 dropped by 1.6 percent. Technology stocks were particularly pressured by results from network equipment maker Cisco. Market observers said that pressure on Cisco's profit margin overshadowed its AI successes.
Investors are now awaiting U.S. inflation data on Friday. This will be the next key piece of information to assess the Federal Reserve's monetary policy room for maneuver. A surprisingly strong U.S. jobs report the previous day had dampened hopes for interest rate cuts./ck/he
