According to the indicators of the individual stock indices of the main European market, the current course of trading on the European stock market during the beginning of the Wednesday European afternoon on October 25, 2023, rather signaled a trading trend of a bear market. The stock market in Germany, France, Switzerland as well as in the Nordic countries of Western Europe such as Finland, Sweden, etc. recorded a decline in share prices. For now, the London Stock Exchange in the United Kingdom of Great Britain and Northern Ireland indicates the course of trading on the stock market with price growth.
However, according to reports from economic reporters, an abnormal phenomenon occurred on the German stock market during today’s trading day, October 25, 2023, namely that the shares of the German banking giant Deutsche Bank rose on the Frankfurt Stock Exchange, slightly exceeding the 7% mark of their previous price in the daily increase. Currently, during the European Wednesday afternoon on 10/25/2023, at approximately 13:03 CET, these Deutsche Bank (FF-DBK) shares are trading at a value of EUR 10.12 per share, with a +6.49% daily increase of their prices. However, the overall European stock index STOXX600 shows daily negative values and its point status thus fell by -0.16% points and on the indicated day and time showed its point value in the amount of 434.39 points. Trading on the German stock market, expressed by the stock index DAX, has also shown a drop in stock prices so far, and this index indicates a point level of 14,878.33, but already with a slight daily drop of only 0.01% of the point value.
This state of trading on the European stock market, according to analysts of brokerage companies in connection with stock market strategists, thus reflects the nervousness of investors, traders and other participants in the financial market in connection with the meeting of the Governing Council of the European Central Bank (ECB), which has currently started its meeting in the Greek Athens. During tomorrow afternoon on 26/10/2023, as part of the press conference after the end of the meeting, the head of the ECB, Mrs. Christine Lagarde, will announce the results of the meeting and inform the professional and lay public of the decisions reached by the meeting of the Governing Council of the ECB. According to analysts and economists, this meeting of the ECB is to decide on the level of interest rates and on changes to existing bond purchases, which serve mainly to eliminate the consequences of the Covid-19 pandemic, etc. Another factor that influenced the course of trading on the European stock market is the exchange value of the single European currency, the euro ( EUR) against other world currencies and especially against the US dollar (USD).
Currently, during the European Wednesday afternoon on October 25, 2023, at approximately 13:23 CET, this so-called global currency pair of the single European currency Euro (EUR) and the US dollar, as the world’s reserve currency, traded within the forex operations of the foreign exchange market in the mutual exchange rate at a value of 1.057 USD per EUR with a daily decrease of EUR – 0.142% against the USD. This mutual exchange rate of the currency pair EUR/USD was achieved in a situation where the exchange value according to the dollar index DXY (US Dollar Currency Index) strengthened by + 0.15% of its previous point value. On the day and time indicated, the point value of this DXY dollar index was 106.43 USD points according to this index, which compares the value of the USD to six other major world currencies. According to economic correspondents within the European stock market, there was a jump in the price of FF-DBK shares, when the largest German bank reported a quarterly net profit of EUR 1.031 billion.
