Financial Markets in Frankfurt Experience Early Losses on Monday
The Frankfurt stock exchange opened the trading day on Monday with a decline in prices. By 9:30 am, the Dax index was calculated at around 23,880 points, a 0.5 percent drop from the previous day’s close. Rheinmetall, Bayer and Eon led the price list, while Sartorius, Daimler Truck and Infineon closed at the bottom.
“The tariffs are the ones that decide the direction of the markets” said Thomas Altmann of QC Partners. “The announcement to double the tariffs on steel and aluminum is causing the prices to fall. It’s almost never a day without new tariff news from the White House.” As long as this continues, the nervousness in the markets will remain high, with movements above the average.
“The Dax is near its record high, but it won’t be easy to reach a new all-time high in this environment” Altmann added. “It would be especially psychologically important for the Dax to reach a new all-time high, the 30th of this year, to match the first half of 2024.”
The European common currency, the euro, was stronger on Monday morning, with one euro costing 1.1415 US dollars and one dollar being worth 0.8760 euros.
Meanwhile, the oil price surged, with a barrel of North Sea Brent oil costing around 64.23 US dollars at 9 am German time, a 2.3 percent increase from the previous day’s close.