The DAX continued its positive trend on Wednesday, moving further into green territory following a favorable start to the trading day. By approximately 12:30 PM, the index was calculated at around 25,265 points, representing a gain of 1.0 percent compared to the previous trading day.
Market expert Andreas Lipkow noted that the gains were largely fueled by the shares of Airbus, considered a heavyweight in the index. He stated that the company managed to convince investors in its shares today through positive corporate news. Other stocks attracting investor interest included Gea, RWE, and MTU.
However, Lipkow added a cautionary note regarding the sustainability of the current upward momentum. He expressed doubt, pointing to the negative US pre-market sentiment, rising energy costs, and the ongoing military conflicts in the Middle East. Furthermore, he mentioned that trading has been seasonally thin, meaning that even small contracts in individual shares could dynamically influence the overall market. It remains to be seen during the US market opening whether market participants will maintain their confidence or if fear of flying will take precedence.
Separately, the European common currency strengthened slightly during Wednesday’s mid-day trading. The Euro cost $1.1403, while the Dollar could be acquired for 0.8770 Euro. Meanwhile, the oil price saw a sharp increase. Around noon Central European Time, a barrel of Brent crude priced in the North Sea was trading at $94.90, which was a 4.3 percent jump from the close of the previous trading day.
