The DAX index closed with a gain of 0.6 percent on Thursday, reaching 23,934 points at the Xetra trading close. After a positive start to the day, the index briefly dipped into negative territory during the midday session before recovering and continuing to rise in the afternoon.
Market analyst Andreas Lipkow attributed the trading activity to investors preparing for the upcoming long weekend in the United States. “The US financial markets will remain closed tomorrow, the US national holiday” Lipkow commented. “The coming trading week could then begin quite intensely, bringing the trade dispute and tariffs back into sharper focus.
Trading volume in the DAX was relatively low on Thursday. Lipkow noted that both stock markets appeared to be awaiting official US labor market data and developments from negotiations between the US and the European Union.
Shares of Commerzbank, Henkel, Infineon and SAP led the gains as of shortly before the market close. Rheinmetall and BASF were among the stocks that saw the biggest declines.
Meanwhile, the price of natural gas decreased slightly, with a megawatt-hour (MWh) of gas for August delivery costing €33. This translates to a consumer price of at least around eight to ten cents per kilowatt-hour (kWh) including ancillary costs and taxes, assuming the price level remains consistent.
Oil prices also fell, with a barrel of North Sea Brent crude oil trading at $68.43 at approximately 5:00 PM CET, a decrease of 68 cents or 1.0 percent compared to the previous day’s closing price.
The Euro weakened against the US dollar on Thursday afternoon, with one euro trading at $1.1757. Consequently, one US dollar was equivalent to 0.8506 euros.