The DAX slipped sharply before the weekend. At the Xetra close it was calculated at 22,301 points, a drop of 1.4 % from the previous day’s close. After opening level‑with the prior settlement, the index fell quickly and stayed in the red for the rest of the session.
“Investors are steering into safe havens before the weekend and buy only very selectively from isolated sectors” said Andreas Lipkow, chief market analyst at CMC Markets. “The overall market is avoided and continues to suffer from high oil prices. Even though the impact of Middle‑East news has faded somewhat, skepticism and uncertainty remain constant companions to investors’ allocation decisions. The changes in direction are too rapid, and the purported facts too opaque”.
Lipkow added that the damage already caused by the Iran war could have lasting effects on the global economic trajectory, especially in Europe. “Disruptions to supply chains from the Middle East due to damage to critical infrastructure cannot be fixed in a few days; instead, repair times will likely span several months or even years. Investors are becoming increasingly aware of this”.
Near the end of trading, BASF and Symrise led the Frankfurt stock list, followed closely by reinsurers Hannover Re and Munich Re. The laggards were MTU, Siemens Energy, Rheinmetall and Infineon.
Gas prices fell as well: one megawatt‑hour for delivery in April cost 54 €-three per cent less than the previous day. This implies a consumer price of at least around 10-12 cents per kilowatt‑hour, including ancillary costs and taxes, if the level persists.
Oil, on the other hand, climbed sharply. Brent crude at 17:00 CET on Friday fetched 111.40 USD, up 3.1 % from the previous trading day’s close.
The euro weakened a bit that afternoon. One euro traded at 1.1524 USD, and one US dollar was therefore worth 0.8678 euros.