On Wednesday morning the DAX opened higher. At around 9:30 a.m. local time, the index was quoted at roughly 23,055 points, a 1.9 % gain above the previous day’s closing level. Siemens Energy, Infineon Technologies and Siemens topped the daily gains list, while Deutsche Telekom, Brenntag and the Deutsche Börse were among the lowest‑performing stocks.
The dominant theme on the trading floor continues to be the war in the Middle East. Thomas Altmann of QC Partners explained that “the United States presented a peace plan, but Iran has countered with far‑reaching demands”. He added that “tough negotiations may follow, and whether they will succeed or at least result in a cease‑fire is, at this stage, entirely uncertain”. Yet Altmann notes that “hope is readily embraced in the market. With oil prices falling, risk assets such as equities rally. However, it is still too early for genuine reassurance; volatility is bound to remain high”. He cautions that new losses could arise with any fresh U.S. or Iranian news.
The euro was marginally weaker on Wednesday morning: one euro fetched 1.1614 U.S. dollars, while one dollar was worth 0.8610 euros.
Meanwhile, Brent crude slipped. At about 9 a.m. German time, one barrel of North Sea Brent was priced at $98.49, down $6.00-or 5.7 %-from the previous day’s closing price.
