The Dax managed to hold on to its record level by midday on Wednesday, after a friendly start already. By 12:30 pm, the leading index was calculated at around 22,090 points, 0.2 percent above the previous day’s closing level. At the top of the stock market list, Commerzbank, Sartorius and Mercedes-Benz led the way, with Siemens, Merck and Siemens Healthineers at the end.
However, it is unclear for how long this good mood will last. “Investors are inclined to quick profit-taking and remain very cautious on the stock markets” said market expert Andreas Lipkow. “Today’s positive surprise came from Teamviewer and, at the start, also from Siemens Energy. However, the price dynamics are slowly draining out of Siemens Energy’s stocks.”
The European common currency was stronger on Wednesday midday: one euro cost 1.0383 US dollars and one dollar was worth 0.9631 euros.
Meanwhile, the oil price fell significantly: a barrel of the North Sea’s Brent type cost around 12 pm German time at 76.12 US dollars, which was 88 cents or 1.1 percent less than the previous day’s closing level.