The Dax index continued its positive trend on Wednesday, with a further advance into the green zone by midday. By 12:30 pm, the index was calculated at approximately 22,715 points, a 1.4 percent gain over the previous day’s closing level.
Leading the gainers were Fresenius, Siemens Energy and Munich Re, with almost all other stocks also rising. The only exceptions were Deutsche Telekom, Zalando and Qiagen, which saw declines during the midday session.
“Market participants remain focused on the winning stocks throughout the trading day so far” said market expert Andreas Lipkow. The decline in Deutsche Telekom’s shares, he added, was largely due to the company’s recent financial reports, which, although good, had failed to generate new price expectations. The stock had already seen significant buying ahead of the report and was now experiencing profit-taking.
The euro was slightly weaker against the US dollar on Wednesday, with one euro equivalent to 1.0498 US dollars and one dollar to 0.9526 euros.
Meanwhile, the oil price saw a slight increase, with a barrel of Brent crude costing approximately 73.03 US dollars at 12 pm German time, a one-cent gain over the previous day’s close.