The German stock index DAX closed Wednesday midday in positive territory, maintaining a gain of 0.4 percent from the previous day at approximately 23,765 points. Leading the gains were shares of BMW, Mercedes-Benz and Porsche, while Deutsche Börse, Vonovia and Qiagen trailed behind.
Market expert Andreas Lipkow noted relatively low volatility in the DAX since the market opened. He stated that investors are largely adopting a wait-and-see approach, awaiting new catalysts. While overall sentiment remains positive, Lipkow observed a degree of nervousness. “Due to a lack of trading impetus and new macroeconomic data, a sector rotation and continued profit-taking are discernible” he explained. Trading volume was generally slightly down, a typical pattern for the quieter summer months in financial markets.
The Euro weakened against the US dollar on Wednesday afternoon, with one Euro trading at $1.1773. Conversely, the US dollar was valued at 0.8494 Euros.
In other markets, oil prices increased. A barrel of North Sea Brent crude was trading at $67.77 at around 12:00 PM German time, representing a gain of 1.0 percent or 66 cents compared to the previous day’s close.
