The Dax saw gains as the trading week concluded. At the close of Xetra trading, the index stood at 26,137 points, marking a 0.6 percent increase compared to the previous day’s closing value. After a positive start, the Dax experienced some profit-taking by midday but managed to gain further in the afternoon.
Economically, the European Central Bank (ECB) announced Friday that consumers’ inflation expectations across Europe declined slightly in July, based on an survey the bank commissioned. The median expectation for inflation over the next twelve months dropped from 3.0 percent in June to 2.9 percent in July. However, the perception of inflation remains higher than official statistics: the median of the inflation experienced over the past twelve months decreased from 3.6 percent in June to 3.5 percent in July.
On the stock market front, BMW and Adidas led the price list in Frankfurt shortly before closing, while the Qiagen shares finished at the bottom of the rankings.
In commodity markets, the price of gas increased. A megawatt-hour (MWh) of gas for September delivery cost 66 Euros, which is one percent higher than the previous day. If this price level persists, it implies a consumer price of at least around 11 to 14 cents per kilowatt-hour (kWh), including ancillary costs and taxes.
Crude oil prices also rose; Brent crude oil from the North Sea cost $94.09 per barrel on Friday afternoon (around 5 PM German time). This represented a gain of 31 cents, or 0.3 percent, compared to the end of the preceding trading day.
Meanwhile, the common European currency softened slightly on Friday afternoon. The Euro traded at $1.1677, meaning the dollar was fetchable at 0.8564 Euros.
