Germany’s DAX index closed Tuesday with gains, reaching 24,423 points – a 0.5 percent increase from the previous day’s close. Trading began cautiously but shifted positive during the morning session, maintaining stability throughout the afternoon.
Investor sentiment appeared to be influenced by ongoing discussions in Washington regarding the future of Ukraine, with a growing perception of increased potential for a resolution to the current conflict. The majority of companies listed on the DAX saw their share values rise as a result. However, speculation concerning a potential shift in arms procurement for Ukraine, specifically towards increased reliance on US suppliers, negatively impacted shares of Rheinmetall.
Late in the trading day, Zalando, Porsche and Brenntag led the DAX performance charts, while shares of Siemens Energy and Rheinmetall registered as the lowest performers.
Energy prices also experienced declines. The price of gas for September delivery settled at 31 euros per megawatt-hour, which, if sustained, translates to a consumer price of approximately eight to nine cents per kilowatt-hour, including additional costs and taxes.
Brent crude oil also decreased in value, trading at 66.12 US dollars per barrel in the late afternoon – a 0.7 percent decrease from the previous day’s closing price.
The Euro saw slight gains against the US dollar, reaching an exchange rate of 1.1672 US dollars per Euro. Consequently, one US dollar was valued at 0.8568 Euros.