German stock markets exhibited a muted performance at the start of the trading week. The Xetra index closed at 23,745 points, a marginal gain compared to the previous day’s close. Following a positive open, the DAX index dipped into negative territory in the early afternoon before recovering to a slightly positive position nearing the market’s close.
Market analyst Andreas Lipkow described the trading activity as “calm and thin” highlighting a lack of fresh catalysts to drive the DAX towards the 24,000-point mark. He noted investor focus remained on technology and automotive sector stocks.
Throughout the session, shares of Bayer and Rheinmetall led the gains, while Commerzbank and Heidelberg Materials experienced declines.
Energy prices saw downward trends. Natural gas for October delivery fell to €32 per megawatt-hour (MWh), representing a 2% decrease from the previous day. This level indicates a potential consumer price of at least 8 to 10 cents per kilowatt-hour (kWh), factoring in associated costs and taxes, should the price remain stable.
Oil prices also recorded a significant drop, with Brent crude trading at $67.87 per barrel – a decrease of 3.2% compared to the previous day’s closing price.
The Euro strengthened against the US dollar, reaching $1.1731, with the dollar fetching €0.8524.