The DAX concluded the week with a decline. At the close of trading on Xetra, the index reached 24,986 points, marking a loss of 0.2 percent compared to the previous day’s closing level. After a positive start, the DAX saw its gains erode throughout the day before ultimately slipping into negative territory.
Andreas Lipkow, Chief Market Analyst at CMC Markets, commented that the trading day proceeded without major crises, noting that only diplomatic friction between the US and Iran provided short-term distraction. He added that despite the movements, the overall sentiment remains slightly positive. He stressed that past trading days have been characterized by numerous market influences and impulses that require time to process over the weekend.
The analyst anticipates that the stock market activity will be renewed next week. He suggests that key economic data, such as the PCE deflator and US GDP figures, along with quarterly reports from Micron Technology and FedEx, could potentially accelerate market activity.
In Frankfurt, Rheinmetall and Porsche stocks led the performance list just before the close, while Volkswagen shares finished at the bottom.
In separate markets, energy prices increased. The cost of a megawatt-hour (MWh) of gas for delivery in July rose to 42 Euros, representing a four percent increase from the previous day. If this price level stabilizes, it implies a consumer price of at least nine to eleven cents per kilowatt-hour (kWh), including ancillary costs and taxes.
Oil prices also saw a rise; a barrel of Brent crude at the North Sea cost $80.08 on Friday afternoon, which was 23 cents, or 0.3 percent, higher than the closing price of the preceding day.
Meanwhile, the European common currency strengthened slightly on Friday afternoon. The Euro was trading at $1.1470, while the Dollar was priced at 0.8718 Euros.
