Mid-day trading saw Germany’s DAX index continuing its upward trajectory on Wednesday. At approximately 12:30 PM local time, the index was calculated at 24,230 points, representing a 0.9 percent increase compared to the previous day’s closing value. Leading gains were shares in Zalando, Rheinmetall and Bayer. Conversely, Brenntag and several automotive stocks, including Mercedes-Benz and Volkswagen, registered losses.
Market expert Andreas Lipkow noted investor focus on individual stocks, with a clear preference for Rheinmetall AG. He attributed this trend to anticipation surrounding the upcoming meeting between US and Russian representatives regarding the Ukraine conflict, suggesting it is not expected to be straightforward. “Ukraine has again clearly outlined conditions for Russia ahead of the talks. It remains to be seen whether a sustainable ceasefire will be achieved.
Lipkow added that breadth within the DAX 40 is expanding, with 28 of the 40 constituent stocks currently trading in positive territory. The losses were concentrated primarily amongst automotive companies and shares in Brenntag.
The Euro demonstrated strength during midday trading, reaching a value of 1.1723 US dollars. Consequently, one US dollar was valued at 0.8530 Euros.
Meanwhile, the price of oil declined. A barrel of North Sea Brent crude was trading at 65.70 US dollars around midday, a decrease of 42 cents, or 0.6 percent, from the previous day’s closing price.
