At the close of the week the DAX finished higher, settling at 24,539 points on Xetra’s final trading session-a rise of 0.9 % compared with the previous day’s close. After a solid start, the index built gains through a series of fluctuations.
Christine Romar, Head of Europe at CMC Markets, noted that even though the prospect and subsequent certainty that former Fed Governor Kevin Warsh had been nominated as the new Fed Chair calmed market nerves somewhat, overall sentiment remained tense. She added that the gold price, which has usually been a “calm” indicator, was now moving at unprecedented speed in both directions.
Romar explained that many investors continued to flock to the “safe haven” but some began to question its real‑world stability after the price fell more than ten percent in 24 hours. She warned of a potential bubble that could spread to other markets and said the danger of a dangerous configuration on financial markets was palpable.
“In this context, and after yesterday’s SAP shock, the results from Adidas sparked at least a tentative mood shift” Romar said. “It’s now essential for the market to carry this stabilizing trend into the weekend so it can be picked up again on Monday. After a strong start to the new trading year and the subsequent correction of total gains, the DAX is back on track”.
Throughout the day’s trading, SAP and Adidas dominated the top of the performance list, while the bottom saw Volkswagen, Vonovia, and Rheinmetall.
On energy markets, gas prices edged higher. The price for one megawatt‑hour (MWh) of gas delivered in February rose to 39 Euro, a 2 % increase from the previous day. If that level were to persist, it would translate into a consumer cost of roughly 8 to 11 cents per kilowatt‑hour (kWh), including ancillary charges and taxes.
Oil also saw a modest uptick. Brent crude priced at 70.86 USD per barrel at about 5 p.m. German time-a rise of 15 cents, or 0.2 %, over the previous closing price.
The euro weakened against the dollar in the afternoon session, trading at 1.1878 USD per euro, which meant that one US dollar could be exchanged for 0.8419 euros.
