The German stock market benchmark, the DAX, experienced a decline as the trading week drew to a close. At the close of Xetra trading, the index registered at 24,290 points, a decrease of 0.3 percent compared to the previous day’s closing value. Following a positive start, the DAX moved into negative territory in the early afternoon.
“The DAX appears to be faltering ahead of the weekend” noted market analyst Andreas Lipkow. “Market participants are selectively taking profits ahead of the upcoming weekend. Lessons from recent trading weeks suggest a reluctance to take excessive risk, given the high stakes and the increased potential for setbacks, particularly due to the elevated valuations in the U.S. stock market.
Throughout the trading day, shares in E.ON, RWE and Zalando led the performance on the Frankfurt Stock Exchange. Sartorius shares, conversely, finished at the bottom of the list.
Gas prices saw a decrease: a megawatt-hour (MWh) of gas for delivery in August traded at 33 euros, a drop of three percent from the previous day’s value. This implies a consumer price of at least around eight to ten cents per kilowatt-hour (kWh), inclusive of ancillary costs and taxes, should this price level prove sustainable.
The price of Brent crude oil registered a slight decrease for its recent levels: a barrel of North Sea Brent crude cost $69.46 at approximately 5:00 PM Central European Time on Friday, a reduction of six cents, or 0.1 percent, compared to the previous trading day’s close.
The European single currency strengthened in the afternoon: one euro cost $1.1656, making a dollar worth $0.8579.