European markets exhibited muted activity Tuesday, with the benchmark DAX index showing little change throughout the trading day. By midday, the index hovered around 23,750 points, a marginal increase from the previous day’s closing level.
Performance within the DAX was mixed. MTU, Commerzbank and Siemens Healthineers were among the top performers, while Eon, Qiagen and Rheinmetall experienced declines.
Market analyst Andreas Lipkow attributed the subdued trading to investor caution ahead of the final day of the third quarter, with a preference for banking and logistics sector stocks. He noted that profit-taking contributed to losses in the shares of arms manufacturers and companies operating in cyclical industries.
The potential for a protracted government shutdown in the United States continues to weigh on investor sentiment. With deeply entrenched positions between the two major political factions, a resolution appears distant.
Further influencing market behavior are anticipated data releases from the U.S. later in the day, prompting investors to adopt a cautious approach. This reserve is contributing to thin trading volumes and price volatility across Europe.
The euro strengthened slightly, trading at $1.1745, with a dollar fetching €0.8514.
Gold prices weakened, with a fine ounce priced at $3,804 (down 0.8 percent), equivalent to €104.13 per gram.
Oil prices also declined notably. Brent crude traded at $67.27 per barrel, a decrease of 70 cents, or 1.0 percent, compared to the previous day’s closing price.
