The Dax opened positively on Wednesday. At 9:30 am, the Frankfurt stock exchange displayed around 22,585 points, 0.7 percent more than the previous day’s closing value.
US President Donald Trump made a new announcement, stating that auto manufacturers who want to relocate their production to the United States can receive tax breaks in advance for the new tariffs. “We are giving them some extra time” Trump said at an event for supporters.
However, shares of Deutsche Post were the strongest at the opening of the Dax, with nearly four percent gains, after the company confirmed its annual targets despite ongoing economic uncertainty. Most vehicle manufacturers followed later and increased on average in the Dax.
The European common currency was weaker on Wednesday morning: One Euro cost 1.1383 US Dollars and one Dollar was correspondingly worth 0.8785 Euros.