The DAX index rebounded into positive territory on Wednesday after an initially promising start to the trading day, which saw it dip into negative territory by midday. At approximately 12:30 PM, the benchmark index was calculated at around 23,750 points, a modest 0.1 percent increase compared to the previous day’s closing level. Siemens Energy, SAP and Rheinmetall led the top performers, while Daimler Truck, Porsche and Bayer finished at the bottom of the list.
Market expert Andreas Lipkow noted that profit-taking is currently impacting any overall gains. “The market wants to move upward, but investors are exhibiting risk aversion” he stated. The sparse news landscape is undoubtedly a restraining factor, as there is currently no overarching market trend. “Market participants are holding back for now, anticipating upcoming inflation data releases from the United States.
Lipkow also observed an unusual level of calm for the typically volatile trading month of September. “This tranquil environment could naturally shift in the coming trading week, potentially leading to an increase in volatility.
The Euro weakened slightly against the US dollar, trading at USD 1.1709, with one dollar fetching EUR 0.8540.
Meanwhile, oil prices saw a rise, with a barrel of Brent crude from the North Sea costing USD 66.70 as of noon German time – a 31-cent increase, or 0.5 percent higher than the previous day’s closing price.
