The German DAX index experienced a fluctuating trading session on Wednesday, initially posting gains but subsequently relinquishing much of its early momentum. By midday, the index was recorded at approximately 23,365 points, representing a modest increase of 0.2 percent compared to the previous trading day’s close.
SAP, Rheinmetall and Merck were among the top performers, while Symrise, Mercedes-Benz and Volkswagen registered at the lower end of the rankings.
Market analyst Andreas Lipkow attributed the movement to a focus on defensive sectors and particularly on SAP shares, which he noted had been subject to selling pressure during a recent market correction, now attracting interest from value investors.
Overall, the trading environment has been described as subdued and cautious. Market sentiment remains largely stagnant in anticipation of the Federal Reserve’s interest rate decision scheduled for later in the day, considered the key event for traders. The relatively thin data calendar further contributes to the lack of significant movement.
The Euro was slightly weaker at midday, trading at $1.1843 (with $1 equivalent to €0.8444).
Meanwhile, crude oil prices also declined. Brent North Sea crude was priced at $68.02 per barrel, down 45 cents or 0.7 percent from the previous day’s closing value.
