German equity markets experienced a moderate downturn on Tuesday, with the DAX closing at 24,153 points, representing a 0.5 percent decrease from the previous day’s close. Initial weakness was partially offset during the trading session, though the index ultimately finished lower.
Market analyst Andreas Lipkow noted continued low volatility in the German market, attributing the performance to a cautious sentiment among investors. He highlighted that better-than-expected durable goods orders in the United States may reduce the scope for future interest rate cuts by the Federal Reserve, a trend corroborated by recent US housing data.
Within the DAX, Siemens Energy shares led gains, while Commerzbank lagged, influenced by a negative analyst assessment.
Commodity markets also registered declines. Natural gas prices fell by one percent, closing at 33 euros per megawatt-hour for delivery in September. Sustained at this level, this translates to consumer prices of approximately eight to ten cents per kilowatt-hour, inclusive of taxes and additional charges. Brent crude oil saw a more significant decrease, falling 1.7 percent to 67.61 US dollars per barrel late Tuesday afternoon.
The Euro strengthened against the US dollar, trading at 1.1656 US dollars, while the dollar was valued at 0.8579 Euros.