Dax Struggles Below 24000

Dax Struggles Below 24000

The German DAX index remained in negative territory throughout Monday, failing to recover from a lackluster opening to trading. By midday, the benchmark index was calculated at approximately 24,060 points, representing a 0.8 percent decrease from Friday’s closing level.

Leading the gains within the index were shares of Eon, Commerzbank and Bayer. Conversely, Zalando, Brenntag and Porsche experienced declines.

Market expert Andreas Lipkow noted that the DAX has managed to stay above the psychologically significant level of 24,000 points. He commented that market participants had already anticipated increased scrutiny of the European automotive industry in relation to potential US tariffs. Lipkow expressed skepticism as to whether the European Union’s announcement of planned retaliatory tariffs would significantly alter the negotiating dynamic.

An escalation of the trade dispute between Europe and the United States would be undesirable at this time, as it would disproportionately impact European businesses. Lipkow suggested that the EU currently lacks adequate alternative trading partners beyond the US. He further pointed to the EU’s past economic arrangements with China, which may now be contributing to the current situation, describing the negotiation environment as “fragile” and requiring careful diplomacy.

The European currency strengthened slightly on Monday. The Euro was trading at $1.1694, while the US Dollar fetched €0.8551.

Meanwhile, oil prices saw a significant increase. Brent crude, a benchmark grade of North Sea oil, stood at $71.41 per barrel against midday German time, a 1.5 percent increase compared to the previous trading day’s closing price.