The DAX finished the week on an upward note. At the close of Xetra trading it had risen to 23,564 points, a gain of 0.5 % compared with the previous trading day. After a tentative start, the index nudged into positive territory just before lunch and went on to extend its gains.
Andreas Lipkow, chief market analyst at CMC Markets, noted that a slight easing in oil prices, coupled with an absence of negative news from the Middle East, has brought a reprieve to the market during the third week of war. “Still, trading remains nervous and is still heavily influenced by high energy prices” he added. “Investors cannot yet gauge how strongly the impacts will affect individual sectors”.
Friday also marks the major expiry date on the futures market. “Until then, investors must decide whether to keep trading stocks, roll their hedging contracts past the expiry, or reduce their net positions to cut risk” Lipkow said. “The situation is still relatively calm, as many investors have hedged their positions”.
The biggest winner of the day was Commerzbank’s stock. “Unicredit has reaffirmed its interest in a merger with Commerzbank by announcing a takeover offer, but the deal involves considerable political considerations. Therefore, Unicredit is proceeding cautiously, aiming to secure more voting rights” the analyst added.
At the close, Commerzbank’s shares led the Frankfurt list, while BMW and Beiersdorf finished at the bottom.
Gas prices climbed: a 1‑megawatt‑hour (MWh) unit of gas for April delivery cost 51 €-about 1 % higher than the previous day-implying a consumer price of at least 10-12 cents per kilowatt‑hour (kWh) including ancillary costs and taxes, if the level persists.
Oil fell sharply. A barrel of North Sea Brent oil sold at 17:00 CET on Monday for 101.90 USD, down 1.20 % from the previous day’s close.
The euro was stronger on Monday afternoon: 1 € equaled 1.1486 USD, and 1 USD was worth 0.8706 €.
