On Wednesday the DAX stayed in the green until midday after a strong start. At about 12:30 p.m. the benchmark index was calculated at roughly 23,030 points, 1.8 % above yesterday’s closing level. The top performers were Siemens Energy, Infineon and Commerzbank, while the bottom were Deutsche Telekom, Deutsche Börse and E.ON.
After a robust opening and a decisive jump past the 23,000‑point mark, the market began to pull back slightly, said Andreas Lipkow, chief market analyst at CMC Markets. “The relief that the Middle‑East situation is not worsening in the short term still dominates” he added. “The positive signal from the negotiations outweighs the lingering concerns, but doubts remain about whether the discussions will ultimately secure a cease‑fire, given the significant differences among the three parties”.
Third‑party countries, including Pakistan, are acting as mediators to move the negotiations forward. Lipkow noted that the fall in crude oil prices-especially Brent crude-has eased some pressure on the equity market. He also mentioned that statements from the European Central Bank about potential actions to stabilize the euro‑zone economy are pushing German bond yields down slightly.
At mid‑day the euro was a touch weaker: 1 EUR = 1.1605 USD, and 1 USD = 0.8617 EUR.
Meanwhile, Brent crude fell to $98.05 per barrel at around 12 p.m. German time-$6.44, or 6.2 %, below the previous day’s closing price.
