The German stock market experienced a positive shift throughout Wednesday, recovering from a weaker opening to trade in the positive territory by midday. The leading index, the DAX, reached approximately 23,980 points around 12:30 PM, representing a gain of 0.4 percent compared to the previous day’s closing level.
Merck led the gains, with its shares rising by nearly six percent. This upward movement is believed to be linked to an agreement between Pfizer, a US-based company and the White House. The agreement involves potential tariff reductions in exchange for Pfizer lowering prices for the state-run Medicaid healthcare program. Analysts suggest this could serve as a template for similar arrangements with other companies in the pharmaceutical sector.
Alongside Merck, shares of Siemens Energy, Brenntag and Adidas also saw increases. Conversely, Rheinmetall, Fresenius and MTU experienced declines within the market.
The Euro weakened slightly against the US dollar in Wednesday afternoon trading, fetching 1.1727 USD. This translates to 0.8527 EUR per US dollar.
Gold prices saw a beneficial increase, reaching 3,888 USD per fine ounce (+0.8 percent), equivalent to 106.60 EUR per gram.
Oil prices, however, registered a slight decrease. Brent crude, a North Sea variety, was trading at 65.94 USD around midday German time, down 9 cents, or 0.1 percent, from the closing level of the previous trading day.
