With oil prices rising again, the DAX was unable to sustain itself on Friday and ultimately fell back.
At the start of trading on Friday, the DAX moved to the previous day’s closing level at 22,612.93 points and then fell rapidly into the red. At times in the afternoon the stock market barometer was below the 22,300 mark. At the trade deadline, he made it just above that. Its closing level: -1.38 percent at 22,300.75 points.
The price of oil remains an indicator of the mood on the market. The North Sea variety Brent is currently rising again to 110 US dollars per barrel.
“Danger of escalation behind the headlines”
The ten-day postponement by US President Donald Trump does not reduce the risks, and this is noticeable in the markets, said Stephen Innes, Managing Partner at SPI Asset Management. It feels more like “a trader pushing a losing position into the future.” The oil price’s refusal to remain at a lower level continues to signal the “risk of escalation behind the headlines.”
Large trading range in the DAX
The week in the DAX was characterized by its immense trading range on Monday. Here the DAX fluctuated by a spectacular 1,300 points over the course of the day despite contradictory news. It initially reached its previous wartime low of 21,863 points, before recovering sharply to 23,178 points. The price of oil, currently the most important indicator of inflation and economic concerns on the market, also remained in the same range as Monday throughout the week.
Transports through the Strait of Hormuz
US President Trump has now again extended his ultimatum to Iran to open the Strait of Hormuz. The strait – one of the world’s most important transport routes for energy supplies – has effectively been closed by Iran. Trump does not want to have any Iranian power plants attacked until April 6th at 8:00 p.m. (US Eastern time, April 7th 2:00 a.m. German time), as he wrote with reference to “very good” conversations on his Truth Social platform.
The news situation remains contradictory. Iran had repeatedly denied such talks mentioned by Trump, but Pakistan had confirmed its role as a mediator.
The Strait of Hormuz, one of the world’s most important transport routes for energy supplies, which has been effectively closed by Iran, remains barely passable for the time being. Most recently it became known that the paramilitary Basij militia in Iran prevented three container ships from sailing through this strait. According to the Tasnim news agency, the militia justified its actions with alleged statements by Trump that the strait was open to shipping. Attention was drawn to the official Iranian position that ships with connections to Israel, the USA and their allies were banned from passage.
DAX record from January a long way off
On January 13th, the DAX reached an all-time high of 25,507.79 points, exceeding the 25,500 point threshold for the first time in its history. Ultimately, it ended the day at 25,420.66 points, which was a new record based on the closing price.
Julia Walter, Melanie Schürmann, Martina Köhler, finanzen.net editorial team with material from dpa-AFX
