The Dax index started the trading day on Wednesday with slight gains. By 9:30 am, the leading index was calculated at around 20,385 points, which represents a 0.2% increase from the previous day’s close. Rheinmetall, Heidelberg Materials, and Adidas led the list of stocks, with Siemens Energy, RWE, and Infineon at the end.
“Market participants were already confronted with a series of trading impulses before the market opened” said market expert Andreas Lipkow. “On the one hand, there is the concern about a possible deflationary trend in China. On the other hand, the German industry’s order intake does not show a consolidation picture.”
The order intake in Germany’s industry declined by 5.4% in November, while analysts had expected a decline of only 0.3%. “Even the retail sales figures are below expectations and show a fragile economic picture in Germany” Lipkow said.
The European common currency was slightly weaker on Wednesday morning: one euro cost $1.0330, and one dollar was worth $0.9681.
Meanwhile, the oil price rose: a barrel of North Sea Brent crude cost around $77.51 by 9 am German time, which is 46 cents or 0.6% more than the previous day’s close.