The German DAX index closed the week with modest losses, reaching 23,902 points at the Xetra closing bell. This represents a decrease of 0.6 percent compared to the previous day’s closing value. After a weak opening, the DAX experienced a recovery during trading, peaking in the afternoon before declining again.
Market analyst Andreas Lipkow commented that recent US price and economic data aligned with market expectations and did not trigger significant price movements. He noted the continued moderate price increase indicated by the core PCE deflator in the United States, with consumer spending also remaining within the range forecast by economists. With the US holiday approaching on Monday, Lipkow suggested some investors may be taking profits, resulting in generally quiet trade with lower volumes.
Rheinmetall shares led the gainers on the Frankfurt Stock Exchange near the close of trading, while Infineon shares were among the worst performers.
Energy markets also saw declines. The price of gas for September delivery settled at 32 euros per megawatt-hour (MWh), which, if sustained, would translate to a consumer price of approximately eight to nine cents per kilowatt-hour (kWh) inclusive of additional costs and taxes.
Brent crude oil prices also decreased, trading at $68.15 per barrel at approximately 5:00 PM CET on Friday, down 0.7 percent from the previous day’s close.
The Euro gained slight ground against the US dollar, trading at $1.1701, while the dollar was worth 0.8546 Euros.
