The Dax index closed slightly lower at the weekly end, with a 0..1% decline to 20,406 points at the Xetra closing, compared to the previous day’s close. After a positive start and a record high of around 20,553 points in the morning, the Dax turned negative in the afternoon.
“20,500 is the ceiling for the Dax” commented Konstantin Oldenburger, a market analyst at CMC Markets. “Even the seemingly dynamic US stock market of all time fails to join the German leading index in these days. The Dax has gone too far ahead with its bold leap over the round barrier” Oldenburger said. “At the current level, there are no more buyers, while isolated profit-taking can be observed on the other side.”
In Frankfurt, the papers of Munich Re and Hannover Re, the reinsurers, led the price list, driven by an increase in the earnings expectations of Munich Re. At the bottom of the list, RWE’s shares were found.
Meanwhile, the gas price fell: a megawatt-hour of gas for delivery in January 2025 cost 41 euros, four percent less than the previous day. This implies a minimum consumer price of around nine to eleven cents per kilowatt-hour, including additional costs and taxes, if the price level remains the same.
The oil price, however, rose: a barrel of Brent crude from the North Sea cost $74.03 at around 5 pm German time, which is 62 cents or 0.8% more than the previous day’s close.
The European common currency was stronger at the end of the day: one euro was worth $1.0498, and one dollar was worth €0.9526.