European stock markets experienced a mixed close Friday, with the DAX index finishing the session at 23,902 points, a decrease of 0.6 percent from the previous day’s closing value. Despite a weak opening, the index demonstrated some recovery during the trading day, reaching an afternoon high before declining once more.
Market analyst Andreas Lipkow noted that recent US economic data – including price and economic indicators – largely met market expectations, preventing significant market fluctuations. The core inflation rate remained moderate and consumer spending aligned with forecasts. Lipkow suggested that, approaching the weekend and a US public holiday, some investors appeared to be taking profits. Overall trading volume remained low and activity subdued.
Rheinmetall shares led the gainers on the Frankfurt Stock Exchange, while Infineon’s stock registered the largest losses.
Commodity markets also saw downward movement. The price of natural gas fell to 32 euros per megawatt-hour (MWh) for delivery in September, which would translate to a consumer price of approximately eight to nine cents per kilowatt-hour (kWh) inclusive of all taxes and fees, should the current level be sustained.
Brent crude oil prices also decreased, trading at $68.15 per barrel in late afternoon trading, a decrease of 47 cents, or 0.7 percent, from the previous day’s close.
The Euro strengthened slightly against the US dollar, reaching a rate of $1.1701, while one dollar was worth approximately 0.8546 Euros.