The Dax market experienced a significant decline on Thursday. By the close of trading on Xetra, the index stood at 24,807 points, reflecting a 1.2 percent drop compared to the previous day’s closing. After a shaky start, the index fluctuated throughout the day around the 24,900-point level.
Market sentiment was tempered by several global factors. Although the German government boosted its economic forecast for 2026 on Thursday, this optimism has yet to translate into the equity markets. Ongoing challenges include the high yields on long-term government bonds, signals from the US central bank suggesting a potential further increase in interest rates this year, and the high prices of fossil energy resources.
Fuel costs continued to climb, further pressuring markets. The price of a megawatt-hour (MWh) of natural gas for November delivery rose to 79 Euros, representing a 1 percent increase from the day before. If this pricing level remains permanent, the consumer price is estimated to be at least between 13 and 15 cents per kilowatt-hour (kWh), including associated costs and taxes.
Oil prices registered even sharper gains. At approximately 5 PM German time on Thursday afternoon, a barrel of North Sea Brent crude cost 105.80 US dollars, which is 5.6 percent higher than the close of the previous trading day.
In terms of individual stock performance, Scout 24 led the movers heading into the session, followed by Zalando, BASF, and Rheinmetall. Fresenius and Volkswagen finished at the bottom of the list.
Toward the end of the day, the European common currency strengthened slightly. The Euro was priced at 1.1209 US dollars, meaning one US dollar was valued at 0.8921 Euros.
