Underlying Asset Performance: AXBL.MU's price mirrors the performance of the European blue-chip stocks it tracks. Positive performance boosts the ETF's value, while negative performance decreases it. Supply and Demand: High demand for AXBL.MU can drive its price above its net asset value (NAV), creating a premium. Conversely, high selling pressure can cause a discount. Market Sentiment: Overall investor confidence or fear regarding the European stock market significantly influences AXBL.MU's price. Positive sentiment leads to buying, increasing the price, while negative sentiment triggers selling, decreasing it. Currency Fluctuations: As AXBL.MU holds European assets, exchange rate changes between the Euro and the reference currency impact its price. A stronger Euro relative to the reference currency increases the ETF's value, and a weaker Euro decreases it. Management Fees and Expenses: Although minimal, AXBL.MU's expense ratio can slightly affect its overall return and price. Higher fees can marginally reduce returns compared to similar ETFs with lower fees. Index Rebalancing: Changes in the underlying index composition can cause the fund to rebalance its holdings, potentially impacting the ETF's price, especially if large trading volumes are involved.