Underlying Asset Performance: The primary driver is the performance of the securities held within the MATW.PA ETF. Positive performance in the underlying assets will generally lead to an increase in the ETF's price, and vice versa.

Supply and Demand: Market forces play a crucial role. High demand for MATW.PA will typically push the price up, while increased selling pressure can lead to a price decrease.

Index Tracking: MATW.PA aims to mirror the performance of a specific index. Deviations from the index's returns can impact the ETF's price, although arbitrage mechanisms usually keep these differences small.

Management Fees and Expenses: The costs associated with managing the ETF, including management fees and operating expenses, are factored into the ETF's net asset value (NAV) and indirectly affect its price.

Currency Exchange Rates: If MATW.PA holds assets denominated in currencies other than the Euro, fluctuations in exchange rates can impact the ETF's price when translated back into Euro.

Investor Sentiment: General market sentiment and investor confidence can influence the demand for MATW.PA, thereby affecting its price. Periods of optimism often see increased investment, while fear can trigger sell-offs.

Dividend Payments: Dividend payments from the underlying securities are distributed to ETF holders. The ETF's price may slightly decrease around the ex-dividend date to reflect the distributed value.

Interest Rates: Changes in prevailing interest rates can influence investor preferences between equities (held by MATW.PA) and fixed-income investments, indirectly affecting demand and price.

Economic Conditions: Macroeconomic factors such as economic growth, inflation, and unemployment rates can impact the performance of the underlying companies within MATW.PA, thus affecting the ETF's price.

Geopolitical Events: Major global events, political instability, or regulatory changes can create uncertainty and impact investor sentiment, leading to price fluctuations in MATW.PA.