The Dax index continued to rise on Wednesday, building on a friendly start that had already been seen earlier in the day. By 12:30 pm, the index was calculated at around 20,424 points, a 0.8 percent increase compared to the previous trading day. The top of the price list was dominated by Bayer shares, with Beiersdorf, MTU, and Sartorius shares at the bottom.
“Since the market opened, the German leading index has been gradually moving towards its all-time high” commented market analyst Andreas Lipkow. “Market participants are becoming bolder in their outlook on the economic development in Europe. In contrast, investors are increasingly distancing themselves from consumer stocks and healthcare companies.”
Meanwhile, the European common currency was slightly weaker in the afternoon: one euro cost 1.0307 US dollars, and one dollar was worth 0.9702 euros.
The oil price, however, rose slightly: a barrel of North Sea Brent crude cost around 80.01 US dollars at 12 pm German time, a 9-cent or 0.1 percent increase from the close of the previous trading day.