The Dax started the trading day on Monday with losses. By 9:35 am, the leading index was calculated at around 19,815 points, 0.3% below the closing level of Friday. At the top of the price list were Rheinmetall, Munich Re, and Siemens Energy, followed by Bayer, Porsche, and Volkswagen.
“From today on, it should be much quieter on the floor” said Thomas Altmann of QC Partners. With only three trading days left in the year, investors are not likely to make significant changes to their positions, Altmann said.
Although low trading volumes do not necessarily mean low volatility, “in a thinly traded market, a few orders can still move the market.” The expert believes that the 20,000 mark will remain fiercely contested in the coming days.
The European common currency was weaker on Monday morning, with one euro costing 1.0408 US dollars, and one dollar being worth 0.9608 euros.
Meanwhile, the oil price rose: a barrel of North Sea Brent cost around $73.09 by 9 am German time, 15 cents or 0.2% more than at the end of the previous trading day.