FRANKFURT (dpa-AFX) – With oil prices rising significantly and US specifications very weak, the DAX is likely to experience another clear setback on Thursday. The broker IG estimated the German leading index for the fourteenth trading day since the outbreak of war in Iran two and a half hours before the start of the Xetra 1.6 percent lower to 23,124 points. This means that the Dax is slipping back towards the 23,000 point mark. On Monday last week it briefly fell to 22,927 points as a result of the shock on the energy market, but ultimately saved over 23,000 points.
Now there is renewed pressure from the oil price, whose rise is fueling economic and inflation concerns. A barrel (159 liters) of North Sea Brent currently costs around $112. The previous high in the wake of the Iran war was on Monday at almost $120, the highest level since 2022. An Iranian official spoke on X night of a new level of escalation. This is the regime’s response to increasing attacks on its energy infrastructure. For its part, Iran sees energy infrastructure in Saudi Arabia, the United Arab Emirates and Qatar as legitimate targets.
The evening before, the most important US indices had massively increased their losses after the end of European trading. As expected, the US Federal Reserve left its key interest rates unchanged in the uncertain environment caused by the Iran war. A Commerzbank expert spoke of a “hawkish adherence” to the current interest rate. In terms of monetary policy, the so-called “hawks” are restrictively focusing primarily on combating inflation through rising interest rates.
There will be several more key interest rate decisions on Thursday, including those from the European Central Bank and the Bank of England. The ECB is also likely to remain silent for the time being./ag/zb
