The DAX recorded sharp losses early on Monday. By 9:30 a.m. German time the index was 21,975 points, down 1.8 % from Friday’s close. The biggest fallers were Deutsche Börse, Brenntag and Mercedes‑Benz, while Vonovia, Rheinmetall and Siemens Energy fell to the bottom of the list.
Consorsbank’s chief market analyst Jochen Stanzl said the Iran-Hamas conflict has boiled down to a simple equation for most investors: either the Strait of Hormuz becomes navigable again, or stock markets see no new inflows. A prolonged blockage of this vital waterway would push oil prices higher and dim the outlook for the earnings of the DAX’s most cyclical names.
According to Stanzl, “fixed‑income securities without market‑price risk are the current winners. Investors are more focused on preserving capital than chasing returns”. Demand for hedges is rising, and further setbacks in the market cannot be ruled out.
The euro was slightly softer in the early trade: one euro fetched $1.1544, whereas one dollar was worth €0.8663.
Meanwhile Brent crude saw a notable rise, trading at $113.90 per barrel at 9 a.m. German time-an increase of 1.5 % over the previous day’s close.
