The DAX saw gains on Wednesday, closing the Xetra trading session at 25,155 points, which represented a 0.6 percent increase compared to the previous day’s close. Although the index initially started slightly positive and rose through the morning, it later lost some of those gains.
Andreas Lipkow, Chief Market Analyst at CMC Markets, noted that investor pessimism regarding the ongoing conflict in Iran remains high. He commented that the general market sentiment is deteriorating with each trading day, influenced by high energy prices. He added that central banks are closely monitoring further price developments in the energy sector and are adjusting their future interest rate and monetary policy decisions accordingly.
In the stock market, Airbus and GEA led the gains near the close, while SAP and Siemens Energy finished at the bottom of the index.
Meanwhile, commodity prices surged. The price of a megawatt-hour (MWh) of gas for August delivery reached 63 euros, a five percent increase from the prior day. If this price remains constant, the resulting consumer price would be at least around eleven to 13 cents per kilowatt-hour (kWh), including ancillary costs and taxes.
The price of oil also rose significantly. By mid-afternoon on Wednesday, a barrel of North Sea Brent crude was priced at $94.07, reflecting a 3.4 percent gain over the previous day’s closing price.
In currency markets, the Euro strengthened somewhat by Wednesday afternoon. The Euro was trading at $1.1413, meaning the dollar was available for 0.8762 euros.
