The Dax started the trading day on Wednesday on a friendly note, holding its record high for the time being. By 9:30 am, the leading index was calculated at around 22,075 points, a 0.2% increase over the previous day’s close. Sartorius, Bayer and the Deutsche Börse led the list of gainers, while Siemens Energy, Rheinmetall and Merck trailed at the end.
“The Dax remains the big stock market star” said Thomas Altmann of QC Partners. “Considering the closing prices, this was the 14th all-time high this year. Now, it just needs one more to match the number of records set in the second half of 2024.”
The Dax was as strong this early in the year in 2015, but then it continued to rise before plummeting in the summer. By the end of the year, the Dax was below its peak from February. “History may not repeat itself, but it can also serve as a reminder and prompt for reflection” Altmann said.
The highlight of the trading day on Wednesday was the US inflation rate for January. “Investors and analysts expect a 0.3% increase in the month-on-month rate, which would support the current wait-and-see approach of the Fed” the market expert said.
The euro was slightly stronger in the morning, with one euro equivalent to 1.0374 US dollars and one dollar to 0.9639 euros.
Meanwhile, the oil price fell, with a barrel of Brent crude costing around $76.48 at 9 am German time, a decrease of 52 cents or 0.7% from the previous day’s close.