30 am, a decline of 1.5 percent compared to the previous trading day’s close. Beiersdorf, Porsche and Brenntag led the list of top performers, while Deutsche Telekom, Bayer and Rheinmetall lagged behind.
The sudden departure of US President Donald Trump from the G7 summit has left investors uncertain, according to Thomas Altmann of QC Partners. “As long as it’s unclear what the US President plans to do, the uncertainty is high” he said. “Markets are reacting with skepticism to the early departure and the Dax is no exception.”
The German stock index had previously broken its negative streak, closing in the green for the first time in six days. However, the current environment makes it challenging for the Dax to sustain a positive trend, Altmann noted. “Military conflicts are currently the dominant factor and they set the tone for global markets.”
The euro, the common currency of the European Union, was slightly weaker against the US dollar, trading at 1.1554 dollars per euro, with the dollar available for 0.8655 euros. Meanwhile, the price of Brent crude oil rose by 10 cents, or 0.1 percent, to 73.33 US dollars per barrel, a modest increase from the previous trading day’s close.