The DAX index experienced a decline on Thursday, closing at 23,535 points, a 0.6% decrease from the previous day’s closing value. Following a muted opening, the index initially descended further into negative territory before partially recovering losses during the afternoon trading session.
Market analyst Andreas Lipkow attributed the overall market pressure to the performance of DAX constituent companies SAP and Siemens. SAP is reportedly facing an investigation by the European Commission regarding potential antitrust violations. Adidas shares also came under selling pressure as management clarified the potential impact of US tariffs on revenue and profits.
“The negative news came amidst relatively low trading volume, which amplified the impact on share prices” Lipkow explained. Adidas shares subsequently demonstrated some recovery throughout the remainder of the trading day.
Hannover Rück and Eon were among the top performers on the list, while Siemens Healthineers, Adidas and Brenntag lagged behind.
In energy markets, gas prices rose, reaching €33 per megawatt-hour (MWh) for delivery in October, a 2% increase from the previous day. This level suggests potential consumer prices of at least 8 to 10 cents per kilowatt-hour (kWh), inclusive of taxes and charges, should the price remain consistent.
Conversely, oil prices saw a slight decrease, with a barrel of Brent crude fetching $69.18 at around 5:00 PM local time, a 13-cent or 0.2% decline from the close of the previous trading day.
The euro also weakened against the US dollar, trading at $1.1675, with a dollar worth €0.8565.
