The German stock market benchmark, the DAX, experienced a modest increase on Wednesday, closing at 23,667 points. This represents a gain of 0.2 percent compared to the previous day’s closing value. Following a cautious opening, the DAX shifted into positive territory in the early afternoon and subsequently extended those gains despite some volatility throughout the trading session.
Market analysts have noted continued investor focus on technology and defense stocks, reflecting ongoing trends. Simultaneously, there’s renewed interest in more defensive sectors, while traditionally cyclical industries are facing selling pressure.
Throughout the day’s trading, shares of Commerzbank, Zalando and Rheinmetall led the upward trajectory. Merck shares, conversely, registered the lowest performance.
In the energy markets, natural gas prices eased, with a megawatt-hour (MWh) for October delivery falling to 32 euros, a decrease of 1 percent from the previous day. This price level, if sustained, could translate to consumer prices of approximately 8 to 9 cents per kilowatt-hour (kWh) including ancillary costs and taxes.
Conversely, the price of crude oil saw a significant increase. Brent crude, a benchmark variety from the North Sea, reached $68.85 per barrel around 5:00 PM local time, a rise of 1.8 percent compared to the close of the prior trading day.
The euro weakened against the US dollar, trading at 1.1739, meaning one dollar was worth 0.8519 euros.
