30 a..m., a decline of roughly 0.4 % from the previous close. Zalando topped the list of gains, followed by BASF and FMC, while Bayer, SAP and Heidelberg Materials were at the bottom.
“DAX activity over the last 24 hours shows clearly the direction it is headed if the Strait of Hormuz remains closed: daily price swings are likely to intensify” said Jochen Stanzl, chief market analyst at Consorsbank. “Market focus is now more on the number of vessels that sail through the Strait than on sensational statements from the U.S. President. Belief in ‘taco trade’ may persist, but until Iran steps in, the U.S. President cannot end the war-and its effects on energy prices and the global economy-unilaterally”.
Stanzl added that it is uncertain how far U.S. diplomatic outreach extends within the new Iranian regime structures, and whether substantive talks are actually taking place. He noted that Saudi Arabia could potentially become an active war party, which would further elevate escalation risks. “Investors are looking for clues that point out a way out of the conflict rather than signals of deeper entanglement in an endlessly spiraling war” he said.
“What we saw yesterday was a technical counter‑reaction” Stanzl explained. “A floor in the DAX can only form if volatility eases and oil prices fall. Until the market steadies, a bottom is unlikely to materialise”.
The euro was a touch weaker in the early session: one euro fetched 1.1594 U.S. dollars, while one U.S. dollar traded at 0.8625 euros.
Meanwhile, Brent crude rose noticeably; at around 9:00 a.m. German time, the North Sea Brent barrel was priced at $101.30-an increase of 1.4 % from the previous day’s close.
