On Wednesday, the Dax experienced a decline. At the end of Xetra trading, the index was calculated at 23,115.96 points, a decrease of 0.58% compared to the previous day’s close.
According to market analyst Andreas Lipkow, “in the run-up to the US central bank meeting, investors are currently hesitant to take risks. There are too many potential attack points for European stocks, so investors want to check off topics one by one without making significant investments.”
There is a lack of positive impulses in the market and assumptions and speculations are rampant. “This makes the stock markets vulnerable to corrections and keeps market participants on the sidelines for now. The performance of the Dax in the last trading days was satisfactory, which is why there is currently a tendency towards profit-taking” said Lipkow.
In contrast to the trend, Fresenius shares led the list with over three percent in the green, with Infineon and Porsche shares also gaining over two percent. On the other hand, Zalando shares were down over three percent, ranking last on the list, followed by Sartorius and Bayer.
The European common currency weakened on Wednesday afternoon: One euro cost 1.1345 US dollars and one US dollar was worth 0.8814 euros.
The gold price also decreased significantly, with a fine ounce priced at 3,387 US dollars (-1.3%). This corresponds to a price of 95.98 euros per gram.
The oil price, meanwhile, fell significantly: A barrel of North Sea crude oil was priced at approximately 61.50 US dollars on Wednesday afternoon, which was 65 cents or 1.1% less than the close of the previous trading day.