On Wednesday the DAX posted a clear gain. By the close of Xetra trading the index stood at 25,278 points, up 1.1 % from the previous day’s close. After a positive start the DAX continued to build on its momentum.
According to Andreas Lipkow, Chief Market Analyst at CMC Markets, market participants have been confronted with a variety of trading impulses mid‑week. Negative quarterly earnings from Dutch chemical group IMCD have dragged the entire European chemical sector into a downturn, hurting BASF and Brenntag most sharply within the DAX. In contrast, the stronger-than‑expected results of U.S. technology firm Analog Devices have lifted its competitors, Infineon and STMicroelectronics, and boosted their share prices.
Lipkow added that the picture was rounded out by robust orders for durable goods and favourable U.S. housing‑market data. Both figures surpassed expectations, briefly dampening speculation about forthcoming rate cuts. Overall, the U.S. business climate remains ambiguous, and uncertainty persists.
Just before market close, the stocks of Rheinmetall, Heidelberg Materials, and Siemens were the top performers in Frankfurt, while Brenntag and Bayer finished at the bottom of the performance list.
Gas prices rose as well: a March delivery MWh of natural gas traded at €31, up five percent from the previous day. If that level holds, consumers could see prices of roughly 8-10 cents per kWh-including taxes and ancillary costs.
Oil showed a strong daily jump. At around 5 p.m. German time, a barrel of North Sea Brent fetched US$69.50, up 3.1 % from the previous day’s close.
The euro was softer in the afternoon: one euro bought US$1.1812, meaning one U.S. dollar could be exchanged for €0.8466.