On Wednesday the DAX slipped, closing at 24,856 points, down 0.5 % from the previous day’s close. At the top of the gains list were Siemens Energy, Vonovia and Infineon, while at the bottom fell Zalando, SAP and Scout24.
CMC Markets’ chief market analyst Andreas Lipkow said that the lack of momentum on European exchanges this week was disappointing. “Investors remain focused on profit‑taking, especially for companies that report solid quarterly numbers” he explained. The only bright spot was Siemens Energy, which surpassed even the most optimistic forecasts; its shares jumped an additional 6 %. In contrast, Commerzbank’s shares pulled into the losers’ list despite healthy results. Lipkow pointed out that the bank’s recovery, though gaining pace, had largely already been priced in over recent weeks, and that strong expectations from large market participants had not materialised, leaving a selling pressure that dampened demand for a lack of positive catalysts.
The euro weakened in the afternoon, trading at 1 EUR = 1.1866 USD (or 1 USD = 0.8427 EUR). Meanwhile, crude oil prices rose sharply, with a barrel of North Sea Brent reaching $69.94 at 5 p.m. German time – a 1.7 % increase over the previous day’s close.