The Dax index ended the week with a slight decline. At the Xetra closing, the index was calculated at 22,288 points, a minus of 0.1 percent compared to the previous day’s close. The Dax started the day on a par with the previous day’s opening, before rising in the afternoon, only to turn negative in the late afternoon.
BASF and Bayer stocks led the gainers’ list, while Siemens Energy, Sartorius and Airbus shares lagged behind at the close.
“Market participants are focusing on the Dax components with the least political dependence and the greatest potential for catch-up before the weekend” commented market analyst Andreas Lipkow. “Overall, the trading volume is relatively low and many market participants are standing on the sidelines. The sentiment remains tense and the mood is nervous” he described.
“Not only the German elections, but also the increasing external political tensions between Germany and the United States should not be underestimated. Just in the last weekends, there were often unexpected political announcements from the United States that had a direct impact on the economies of Germany and the United States” Lipkow said.
Meanwhile, the gas price fell: one megawatt-hour of gas for delivery in March cost 47 euros, implying a consumer price of at least around nine to eleven cents per kilowatt-hour, including additional costs and taxes, if the price level remains constant.
The oil price fell significantly: a barrel of the North Sea Brent type cost $74.96 at 5 pm German time on Friday, which is 152 cents or 2.0 percent less than at the close of the previous trading day.
The European common currency was weaker at the end of the day: one euro cost $1.0452 and one dollar was worth $0.9568 euros.