30 p..m. German time. That level was roughly 0.1 % above the previous close. The strongest performers were Infineon, Heidelberg Materials and Deutsche Post, while SAP, Gea and Qiagen stayed near the bottom of the list.
CMC Markets’ chief market analyst, Andreas Lipkow, said the index can’t hold its opening level and is slipping further below the 23,000 mark. He added that trading in Frankfurt is still under the influence of the expiring futures contract and is likely to remain volatile through the afternoon. The market, however, is overall characterised by a measurable sense of nervousness, driven largely by the uncertain situation in the Middle East. “All sides in the conflict are issuing bold statements that fuel volatility in energy prices” Lipkow observed.
Iran appears to be demanding a form of protection money from oil tankers that want to pass the Strait of Hormuz unharmed, while denying any weakening through U.S. and Israeli attacks. Lipkow stated that this development makes a quick end to the conflict increasingly unlikely. Israel’s own comments about the possible deployment of ground troops add to the friction, and the verbal exchanges between the parties have intensified over recent trading days.
On the currency front, the euro was slightly softer in the mid‑afternoon: it traded at 1 USD = 1.1571 €, and conversely, 1 USD was priced at 0.8642 €.
Oil prices also slipped: Brent crude was trading at about $108.20 per barrel at 12:00 p.m. German time, down 44 cents-or 0.4 %-from the previous day’s closing price.
