The German Dax index initially showed a positive start to the trading day, but by midday, it had slipped into the red zone. At around 12:30 pm, the benchmark index was calculated at approximately 23,551 points, a 0.4% decline from the previous day’s close. Rheinmetall, Sartorius and Siemens Energy led the list of stocks, while Deutsche Post, Commerzbank and Daimler Truck lagged behind.
Market analyst Andreas Lipkow attributed the Dax’s inability to sustain its early gains to profit-taking, stating, “Despite the more positive market opening, the Dax couldn’t hold on, as some investors took profits.” He noted that the market remains cautious, as the situation in the Middle East and the potential for a sudden escalation in the conflict between Israel and Iran, with the potential involvement of the United States, continues to loom large.
The analyst added that the current news landscape is sparse, which has led to the Middle East situation taking on a high level of priority and presence in the financial markets.
Meanwhile, the euro was slightly weaker against the US dollar, trading at approximately 1.1600 USD per euro, while the dollar was worth 0.8621 euros. The price of Brent crude oil, a North Sea variety, rose significantly, with a barrel trading at around 67.82 USD, a 1.0% increase from the previous day’s close.