Stock trading was weak on the scheduled “bridge day” leading many participants to sell shares at significant discounts. The Dax index closed at 23,951 points, marking a substantial decline of 2.1 percentage points compared to the previous day.
Although the German segment enjoyed a holiday, trading had still occurred, meaning there were likely no significant rebound effects. Many investors were awaiting updates following US President Donald Trump’s visit to China, but the outcome was left open with several questions. Reports claimed that Trump avoided discussing tariffs altogether, while China signaled its intention to purchase US goods worth billions of US dollars. However, many commentators remain skeptical of the US president’s statements.
The uncertainty surrounding the situation with Iran continues to cloud the market. Meanwhile, oil prices saw a sharp increase. On Friday afternoon, the North Sea grade Brent crude oil cost $109.00 per barrel, representing a rise of 3.1 percent from the close of the previous trading day.
Within the Dax index, several stocks experienced heavy declines in this climate. Heidelberg Materials, for instance, dropped by over seven percent, while shares of Siemens and MTU fell by around five percent. However, some stocks were positive performers: SAP shares gained over two percentage points just before the market closed, and the reinsurers based in Hanover and Munich finished slightly in the green, up by approximately a quarter of a percentage point.
Finally, the exchange rate for the European community currency softened on Friday afternoon. The euro was priced at $1.1625, making the dollar available for 0.8602 euros.
