The Dax remained in the green area on Wednesday after a friendly start until midday. At around 12:30 pm, the index was calculated at around 22,565 points, which corresponds to a plus of 0.6 percent compared to the previous trading day. At the top of the price list were Deutsche Post, Deutsche Börse and Deutsche Telekom, while at the bottom were Zalando, Commerzbank and Adidas.
“Currently, the Dax is back on the price level before the US threat of tariffs and has thus fully priced in the situation” said market expert Andreas Lipkow. “It seems that market participants are firmly convinced that the stance of the US will soften and that the EU will come out of it with no serious injuries.”
It is noteworthy how quickly paradigms are changing in the financial markets at the moment, as Lipkow puts it. “Yesterday, investors were still showing concern, but today everything seems to be in order again and the earnings season is more important.”
“From this direction, some index members have been rewarded today because they had published quarterly data that matched market expectations” Lipkow continued. In the afternoon, several important US macro data points are scheduled. The trading-free holiday on Thursday could also cast a shadow forward, as Lipkow notes.
The European community currency was weaker on Wednesday midday: One euro cost 1.1364 US dollars and one dollar was correspondingly worth 0.8800 euros.
Meanwhile, the oil price fell: A barrel of North Sea crude Brent cost around 12:00 am German time 63.65 US dollars; that was 60 cents or 0.9 percent less than the close of the previous trading day.