The German DAX index experienced a decline on Tuesday, closing at 24,153 points, representing a 0.5 percent decrease from the previous day’s closing value. While the index began the day with weaker performance, it partially recovered lost ground during trading.
Market analyst Andreas Lipkow commented on the continued limited volatility within the overall German market. He noted a cautious and restrained sentiment among market participants. Recent data on U.S. durable goods orders exceeded expectations, potentially reducing the scope for interest rate cuts by the U.S. Federal Reserve. U.S. housing data also indicated a similar trend.
Towards the close of trading, shares of Siemens Energy led the gainers, while Commerzbank shares lagged, influenced by analyst assessments.
European energy markets also saw movement. The price of natural gas decreased by one percent, settling at 33 euros per megawatt-hour for September delivery. Should this price level be sustained, consumer prices could remain at a minimum of eight to ten cents per kilowatt-hour, inclusive of taxes and additional costs.
Oil prices experienced a significant drop, with Brent crude falling 1.7 percent to $67.61 per barrel by late afternoon trading.
The Euro strengthened against the US dollar, trading at $1.1656, while the dollar was valued at 0.8579 Euros.
