The DAX remained largely unchanged at the close of trading on Friday, settling at 23,698 points, a marginal decrease from the previous day’s closing value. The index experienced an initial positive start to the session, which later shifted into negative territory before partially recovering throughout the day.
“Trading activity showed a monotonous and thin pattern as the week drew to a close” commented market analyst Andreas Lipkow. “Investors remained cautious ahead of the weekend, closely observing the German insurance sector. Conversely, automotive and chemical company stocks saw selling pressure”. Lipkow noted that cyclical industries are currently not among investors’ top picks, while defensive sectors and technology stocks are drawing increased attention.
Hannover Rück and Münchener Rück shares led the gains on the DAX until shortly before the market close, influenced by an analyst assessment. Heidelberg Materials and Bayer shares, however, occupied the bottom of the list.
Gas prices rose, with a megawatt-hour (MWh) for delivery in October costing 33 euros, representing a 1% increase from the previous day. This price level suggests a consumer price of at least approximately 8 to 10 cents per kilowatt-hour (kWh) inclusive of surcharges and taxes, should the current pricing persist.
Oil prices also exhibited a notable increase – a barrel of Brent North Sea crude traded at $67.57 on Friday afternoon, a 1.8% rise compared to the previous trading day’s close.
The European currency weakened slightly on Friday afternoon: the euro traded at $1.1720, while a dollar was priced at €0.8532.
