European markets experienced a moderate positive trend as the week drew to a close. The DAX index finished the trading day at 24,363 points, representing a gain of 0.3 percent compared to the previous day’s closing value. Despite an initial dip, the index recovered throughout the session and ultimately posted gains, driven in part by activity in the pharmaceutical, defense and automotive sectors, according to market analyst Andreas Lipkow. Utility stocks and shares of Deutsche Telekom experienced comparatively weaker performance, as did Beiersdorf and Deutsche Post. Overall market sentiment remained calm and stable.
Daimler Truck and Zalando led the gainers at the close of trading, while Commerzbank shares lagged behind.
Commodity markets saw diverging trends. Natural gas prices increased to 33 euros per megawatt-hour (MWh) for September delivery, potentially translating to consumer prices of eight to ten cents per kilowatt-hour (kWh) inclusive of taxes and additional charges if sustained. Brent crude oil, however, saw a slight decrease, trading at $67.66 per barrel – one cent lower than the previous day’s close.
The Euro strengthened against the US dollar, reaching 1.1727 US dollars – a 1.01 percent increase – with the dollar trading at 0.8527 Euros.
