The German Dax index closed higher on Wednesday, with a 0.8 percent increase from the previous day’s close, at 24,276 points. The index had a positive start, building on its gains throughout the morning before briefly approaching its previous day’s close in the afternoon.
Market participants are currently optimistic that the US tariffs, threatened by President Donald Trump, will be less severe than initially announced. Many are hoping that the president will reconsider or delay the tariffs if the markets react negatively.
In Frankfurt, Infineon’s shares led the market, driven by reports of high demand for AI chip components from a competitor. In contrast, Deutsche Bank’s shares closed at the bottom of the list.
Meanwhile, the gas price fell, with one megawatt-hour of gas for delivery in July costing 36 euros, a one percent decrease from the previous day. This implies a minimum consumer price of around eight to ten cents per kilowatt-hour, including additional costs and taxes, if the price remains stable.
The oil price also declined, with a barrel of North Sea Brent crude trading at 65.31 US dollars at 5 pm German time, a 0.5 percent decrease from the previous day’s close.
The euro, the European Union’s common currency, strengthened, with one euro equivalent to 1.1419 US dollars and one US dollar equivalent to 0.8757 euros.