The German stock index closed at the same level as the previous day. At the close of trading on Xetra, the index reached 23,804 points, reflecting a slight decrease compared to the previous day’s close. After a subdued start, the index rose until midday before losing some of those gains in the afternoon.
Andreas Lipkow, Chief Market Analyst at CMC Markets, commented that the mood was dampened by the conflict in Iran and the resulting sharp rise in energy prices. He noted that before the conflict, there had been clear signs of a floor forming in the German economy, suggesting a potential trend reversal. However, this economic movement is now questionable because the impact of recent events on inflation and consumer spending patterns remains unclear.
Lipkow stated that the upcoming weekend is likely to cause some unease for most investors, given the uncertainty surrounding the actions of the warring parties over the next 48 hours. He described the current political and military developments in the Middle East as both fleeting and complicated.
Among the top-performing stocks in Frankfurt before the market closed were shares of Heidelberg Materials, BASF, and BMW. At the bottom of the trading list were the stocks of Zalando, Hannover Rück, and Rheinmetall.
Meanwhile, gas prices fell, with a megawatt-hour (MWh) of gas for May delivery costing €44, which is five percent less than the previous day. If this price level remains stable, this implies a consumer price of at least around nine to eleven cents per kilowatt-hour (kWh), including ancillary costs and taxes.
In contrast, oil prices increased, with a barrel of Brent crude oil trading at $96.31 US dollars on Friday afternoon around 5 PM German time, marking an increase of 39 cents, or 0.4%, from the close of the previous trading day.
The European common currency was stronger by Friday afternoon; the euro cost $1.1735, making the dollar available for 0.8522 euros.
