Following a positive opening, the index consolidated its gains throughout the afternoon despite some market fluctuations
Positive momentum stemmed from recently released US economic data The number of initial jobless claims in the US for the past week was marginally higher than anticipated Investors are interpreting this as a potential catalyst for the US Federal Reserve to accelerate interest rate reductions, which would lower borrowing costs for businesses
Late in the trading session, shares of Siemens Energy and Heidelberg Materials led the gainers on the Frankfurt exchange MTU and Sartorius performed as the weakest stocks
Meanwhile, the price of natural gas increased A megawatt-hour (MWh) of gas for delivery in October traded at 32 euros, a 1 percent rise from the previous day Should these prices remain consistent, this translates to a consumer price of at least eight to ten cents per kilowatt-hour (kWh) inclusive of fees and taxes
Oil prices moved in the opposite direction Brent crude oil, the North Sea benchmark, reached $6707 per barrel at approximately 5:00 PM CET, representing a 08 percent decrease from the prior session’s close
The euro also saw slight movement, weakening to $11645 Conversely, the dollar strengthened to 08587 euros
