Dax Slips at the Start of the Week
The Dax index closed the Xetra trading session at 20,313.81 points, a 0.45% decline from the previous trading day.
“Two important events are on the agenda for the last full trading week of the year, with the Fed’s interest rate decision on Wednesday and the large dividend payment on Friday, which could still inject some excitement into the market” said Konstantin Oldenburger, a market analyst at CMC Markets, commenting on the current developments.
“Until then, caution is advised in Frankfurt, and the Dax remains in a strong and intact bull market” the expert added. Characteristics of such upswings include “the minimal volatility, as buyers always find each other when it seems like it’s about to go down” Oldenburger said.
“Even without a rally extension until the year-end, investors can be satisfied with the Dax’s development so far. A second year with a 20% plus and, as the cherry on top, breaking the 20,000 mark – hard to believe it could continue like this in 2025. Yet, everything remains possible at the stock exchange” he concluded.
At the top of the Dax’s price list, Siemens Energy’s papers rose by over 4% against the trend, followed closely by Commerzbank and Rheinmetall. At the bottom of the list, Mercedes Benz’s shares fell by over 4%, followed by Vonovia and BMW.
The euro was slightly stronger in the afternoon, with one euro costing 1.0501 US dollars, and one dollar being worth 0.9523 euros.
Gold prices rose slightly, with one fine ounce being sold for $2,651 (+0.1%) in the afternoon, equivalent to €81.15 per gram.
Oil prices, on the other hand, fell, with a barrel of Brent crude costing $73.78 at 5 pm German time, a decrease of 71 cents or 1.0% from the previous trading day’s close.