The German DAX index maintained a positive trajectory throughout Wednesday, building on an encouraging start to the trading day. By midday, the benchmark index reached approximately 24,225 points, representing a gain of 0.8 percent compared to the previous day’s closing level.
Automotive stocks continued to lead the performance table with significant gains. Later in the session, SAP, Eon and Infineon also showed positive movement.
Market expert Andreas Lipkow noted a waning of initial enthusiasm surrounding the trade agreement between the United States and Japan. While the automotive sector remains in demand, market participants are now prioritizing concrete results. “Recent experiences have repeatedly demonstrated that the devil is often in the details” Lipkow commented.
Japanese investors have shown particular interest in the automotive sector, prompting questions regarding potential replicability with the forthcoming trade agreement between the United States and Europe. Lipkow expressed cautious optimism, highlighting the ongoing uncertainty. “It remains to be seen and today’s gains are hampered by the same investor caution seen in previous trading days.
The euro was marginally weaker at midday, trading at $1.1730, with the dollar fetching €0.8525.
Meanwhile, oil prices decreased. Brent crude was trading at $68.18 per barrel around noon German time, reflecting a drop of 41 cents, or 0.6 percent, compared to the previous day’s closing price.
