European markets experienced a subdued performance on Monday, with the DAX index struggling to overcome initial weakness and remaining in negative territory throughout the morning session. By midday, the benchmark index was calculated at approximately 24,060 points, representing a 0.8 percent decrease from Friday’s closing level.
Among the top-performing stocks were Eon, Commerzbank and Bayer, while Zalando, Brenntag and Porsche closed among the lowest.
Market analyst Andreas Lipkow noted the DAX’s ability to maintain a level above the psychological threshold of 24,000 points. He indicated that investors had already anticipated the potential imposition of U.S. tariffs on the European automotive industry. The effectiveness of the European Union’s announcement of planned retaliatory tariffs in altering the negotiation landscape remains uncertain.
Escalation of the trade dispute between Europe and the United States is currently considered undesirable and would disproportionately affect European businesses. Lipkow underscored the lack of readily available alternative trading partners for the EU beyond the U.S. He further suggested that previous economic engagements with China by the EU could now pose a challenge. “It’s a very fragile negotiating situation requiring diplomacy over confrontation.
The Euro strengthened during midday trading, fetching 1.1694 US dollars, with one US dollar equivalent to 0.8551 Euros.
Oil prices saw a significant increase, with a barrel of Brent North Sea crude trading at $71.41 around midday German time, a rise of 1.5 percent compared to the previous day’s closing price.
