16 July
DAX index fell 3% over past week amid heightened geopolitical tensions
According to analysts at Trading Economics, geopolitical tensions have pushed Germany’s benchmark DAX index to its lowest level in a month. On Friday, the index dropped 1.1% to 23,516, marking a 3.2% weekly decline.
The losses reflect global market fears over escalating uncertainty, with German corporate sector being greatly affected. Thus, the shares of Adidas witnessed a decline of 2.8%, the indicators of Porsche went down by 2.5%, and SAP lost 2.5%. At the same time, the assets of Rheinmetall rose by 2.7%, RWE by 1%, and Daimler Truck Holding by 0.7%, as noted by Trading Economics.
Meanwhile, Investing.com analysts said the DAX volatility index fell 2.59% to 19.02. The euro-dollar pair remained at 1.16. The euro-pound sterling pair was also stable at 0.85.
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