The German DAX index experienced a decline on Thursday, closing at 23,535 points, representing a 0.6% decrease compared to the previous day’s closing value. Following a cautious opening, the index initially trended further downward before partially recovering losses in the afternoon trading session.
Market analyst Andreas Lipkow attributed the downward pressure to the performance of major DAX-listed companies, specifically SAP and Siemens. He noted ongoing investigations by the European Commission regarding potential competition violations involving SAP. Adidas shares also faced significant selling pressure following management’s clarification on potential revenue and profit reductions influenced by US tariffs.
The relatively low trading volume amplified the impact of these developments, according to Lipkow. While Adidas shares demonstrated a partial recovery later in the trading day, the earlier volatility reflected broader market sensitivity.
Throughout the day’s trading, Hannover Rück and Eon were among the top performers, while Siemens Healthineers, Adidas and Brenntag lagged.
Energy markets registered contrasting trends. Natural gas prices increased, with a Megawatt-hour (MWh) for delivery in October reaching 33 euros, a 2% rise from the previous day. This potentially translates to consumer prices of approximately 8 to 10 cents per kilowatt-hour (kWh), encompassing ancillary costs and taxes, if this price level persists.
Conversely, crude oil prices saw a slight decrease. A barrel of Brent North Sea crude traded at $69.18, representing a 13-cent or 0.2% drop from the previous day’s closing price.
The Euro also weakened slightly, reaching 1.1675 against the US dollar, meaning one dollar was worth 0.8565 euros.