Financial Markets Experience a Calm and Quiet Day on Pentecost Monday
The German Dax index struggled to break out of the red zone throughout the morning, ultimately closing at around 24,175 points, a 0.5% decline from Friday’s closing value at 12:30 pm.
In a departure from the overall trend, shares of Adidas, Vonovia and BASF led the pack, while Siemens Energy, SAP and Rheinmetall lagged behind. The trading volume, as expected, was relatively low on a public holiday.
The euro, the common currency of the European Union, strengthened in the morning, with one euro equivalent to 1.1426 US dollars and one dollar worth 0.8752 euros.
Meanwhile, the price of oil rose, with a barrel of Brent crude from the North Sea valued at 66.69 US dollars at 12 pm Central European Time, a 22-cent or 0.3% increase from the previous trading day’s close.