The German stock market experienced a positive trajectory on Wednesday, building upon an encouraging start to the trading day. By midday, the benchmark DAX index edged further into positive territory, reaching approximately 24,445 points – a gain of 1.0 percent compared to Tuesday’s closing level. A new trading record was briefly achieved, with the index reaching a peak of 24,480 points.
Leading the performance were Siemens, BASF and Deutsche Bank, while Porsche, FMC and Commerzbank concluded the session among the top performers.
Market analyst Andreas Lipkow attributed the gains to investor confidence in a potential near-term economic recovery for Germany. He noted the expectation that government debt issuance and subsequent stimulus measures will positively impact corporate earnings. However, Lipkow also highlighted a narrowing market breadth, indicating that the recent DAX gains are being driven by a relatively small number of companies.
The Euro weakened slightly during Wednesday’s trading session, fluctuating to 1.1714 US dollars, effectively pricing a dollar at 0.8537 Euros.
Crude oil prices also saw an increase, with a barrel of North Sea Brent crude costing $70.33 around midday – an increase of 18 cents or 0.3 percent compared to the close of the previous trading day.
