The Dax started the day at the previous day’s level on Wednesday and then slipped into negative territory by midday. At around 12:30 pm, the index was calculated to be at around 23,197 points, which represents a decrease of 0.2 percent compared to the previous trading day. At the top of the price list were the shares of FMC, Fresenius and Porsche, while those of Zalando and Sartorius were at the bottom.
“Market participants are becoming more cautious as the current price level in the Dax 40 already includes a lot of euphoria and optimism” commented market analyst Andreas Lipkow. The fragile market situation was also evident in the elections for chancellor. “The recently reached price highs were achieved with very low trading volumes and thus the Dax stands on a very shaky foundation. Not least, new developments in US trade protectionism or unsettling statements from the US central bank could once again cause a slight stock market tremor” said Lipkow ahead of the Fed’s interest rate decision in the evening.
The European community currency was slightly weaker on Wednesday afternoon: One euro cost 1.1362 US dollars and one dollar was therefore worth 0.8801 euros.
Meanwhile, the oil price rose: A barrel of North Sea crude oil was priced at around 62.36 US dollars at 12 pm on Wednesday in German time, which is 21 cents or 0.3 percent more than at the end of the previous trading day.