The German stock market benchmark, the DAX, experienced a decline at the end of the trading week. Closing at 24,255 points, the index recorded a decrease of 0.8 percent compared to the previous day’s closing value.
Market analysts cite recent news impacting the European Economic and Monetary Union as a contributing factor. Andreas Lipkow noted that attention will now focus on how investors adjust their positions within the DAX 40, emphasizing that the index comprises more than just defense and construction firms. He highlighted that cyclical industries have been overshadowed for several years by the dominance of key index constituents.
Throughout most of the trading day, a significant portion of DAX-listed stocks were in negative territory. Brenntag and Siemens Healthineers shares were among the lowest performers. Countering this trend, Siemens Energy, MTU and RWE stocks led the list of gainers on the Frankfurt exchange.
Energy markets also saw upward pressure. Natural gas for delivery in August reached €36 per megawatt hour (MWh), representing a 1 percent increase from the previous day. This translates potentially to consumer prices of at least 8 to 10 cents per kilowatt hour (kWh), inclusive of additional costs and taxes, if this price level persists.
Crude oil prices also saw a substantial increase, with a barrel of Brent crude North Sea oil reaching $70.26, a 2.4 percent gain compared to the end of the previous trading day.
The euro weakened slightly against the US dollar, trading at $1.1696, with a dollar fetching €0.8550.
