European markets exhibited a cautious close to the week, with the DAX index finishing marginally lower at 24,359 points – a decrease of 0.1 percent from the previous day’s closing value. Initial gains made during trading hours were gradually eroded, ultimately leading to a negative close.
Market analyst Andreas Lipkow described the current environment as “very mixed” and cautioned against premature assessment. He highlighted the upcoming central bank meeting in September as a key event to watch, noting that recent US economic and price data suggest potential for short-term price corrections. While retail sales figures fell short of expectations, Lipkow pointed out upward revisions to June data and a stronger-than-anticipated Empire State Index reading.
Late in the trading session, shares of Bayer and Airbus led the gainers, while Siemens Energy shares experienced the largest declines.
Commodity markets also saw downward movement. The price of natural gas fell by four percent, settling at €31 per megawatt hour for September delivery. This price translates to a consumer price of approximately eight to nine cents per kilowatt hour, including all associated taxes and surcharges, should the level be maintained.
Crude oil prices also decreased slightly, with Brent crude trading at $66.48 per barrel in the late afternoon – a reduction of 0.5 percent from the previous day’s close.
The Euro strengthened against the US dollar, trading at $1.1712, corresponding to a rate of €0.8538 per dollar.
