European markets experienced a moderate downturn on Wednesday, with the DAX closing at 24,277 points, representing a 0.6 percent decrease from the previous day’s close. Initial losses were partially recovered by midday, but selling pressure resumed in the afternoon session.
Investors are closely monitoring forthcoming signals from the US Federal Reserve regarding its future monetary policy. The minutes from the most recent Federal Reserve meeting, released Wednesday evening, are anticipated to provide insight into the central bank’s deliberations. Further guidance is expected on Friday when Federal Reserve Chair Jerome Powell speaks at the Jackson Hole central banking symposium.
Within the DAX, shares of Deutsche Börse, Symrise and Henkel performed strongly throughout the trading day. Siemens Energy, however, lagged behind, recording the largest declines.
Commodity prices also saw upward movement. Natural gas prices rose by 3 percent, reaching €32 per megawatt-hour for September delivery. Sustained at this level, this translates to a potential consumer price of at least eight to ten cents per kilowatt-hour, including taxes and additional charges. The price of Brent crude oil also increased, reaching $66.62 per barrel, a gain of 1.3 percent.
The Euro strengthened slightly against the US dollar, trading at $1.1660, while the dollar was valued at €0.8576.
