European markets exhibited a cautious tone on Tuesday, with Germany’s DAX index closing at 23,940 points, a decrease of 0.2 percent from the previous day’s close. Initial gains were reversed during the session before partially recovering towards the close, bringing the index close to the previous day’s valuation.
Market analysts note the 24,000-point threshold has recently acted as a point of resistance. Andreas Lipkow commented that the DAX has struggled to sustainably move beyond this level, with current market dynamics now testing downward momentum. He highlighted low trading volumes, typical for this time of year, as an additional contributing factor, alongside ongoing investor concerns regarding the situation in Ukraine.
By late trading, shares of Sartorius, Infineon and Siemens Energy led the performance charts, while SAP, Deutsche Börse, Hannover Rück and Münchener Rück were among the weakest performers.
Commodity markets also saw declines. Natural gas prices fell by 2 percent to 32 euros per Megawatt-hour for September delivery, potentially translating to consumer prices of approximately eight to ten cents per Kilowatt-hour including taxes and surcharges, should prices remain at this level. Brent crude oil also decreased, trading at 66.32 US dollars per barrel, a reduction of 0.5 percent.
The Euro strengthened against the US dollar, reaching an exchange rate of 1.1665 US dollars per Euro. This corresponds to a rate of 0.8573 Euros per US dollar.
