The Dax is expected to open lower on Thursday, according to calculations by banks and brokerages. The military conflict between the US and Iran escalated further overnight. Following US airstrikes in the region, the Iranian Revolutionary Guard reported attacking US aircraft at the Al-Asrak base in Jordan with twelve ballistic missiles. On Wednesday, the German benchmark index had already shed one percent to close at 24,195 points due to the resurgence of hostilities between the US and Iran. Wall Street also trended downwards, and a buying mood failed to materialize across Asian markets as well.

In addition to the conflict in the Middle East, the focus on Thursday is on the European Central Bank (ECB) interest rate decision. Economists and financial market experts firmly expect policymakers to raise the deposit rate from 2.0 to 2.25 percent in response to rising inflation - the first hike in nearly three years. Since the outbreak of the Iran war, inflation has climbed primarily due to high oil prices. On Thursday, prices for North Sea Brent and US WTI rose by as much as 2.6 and four percent respectively, reaching 95.50 and 93.64 dollars per barrel.

At Hugo Boss, a takeover bid from British billionaire Mike Ashley could attract attention. Frasers Group, a British textile, footwear, and sports retailer controlled by Ashley, is offering Hugo Boss shareholders 38.00 euros per share. Hugo Boss announced late Wednesday evening that the offer had not been coordinated with the company.

Closing levels of European Level  

Stock Indices and

-Futures on Wednesday

Dax 24,195.31    

EuroStoxx50 6,009.95    

EuroStoxx50-Future 6,032.00    

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Closing levels of Level Change in

US Indices on Wednesday Percent

Dow Jones 49,918.78   -1.9%  

Nasdaq 

S&P 500  7,266.99   -1.6%  

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Asian Indices on Price at 07:00 Change in

Thursday CET Percent

Nikkei 

Shanghai 3,964.24   -0.7%  

Hang Seng 24,136.17   -1.1%  

(Report by Anika Ross, Daniela Pegna. For inquiries, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and economics) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)