On Wednesday, the DAX finished higher, closing at 25,176 points at the Xetra settlement time-a gain of 0.8 percent compared with the previous close. After a slow start, the index built on its earnings in the second half of the day.
“Even the somewhat euphoric anticipation of Nvidia’s earnings at Wall Street could not be ignored by the DAX in the afternoon” said Andreas Lipkow, chief market analyst at CMC Markets. “Earlier in the day there was little movement at the Frankfurt exchange and investors were staying in a cautious, probing phase”.
The low trading volume reflected this reluctance to commit to purchases. “Given the current mix of factors, people are unwilling to lean too far forward. The risk that geopolitics could shift abruptly because of a tweet or a military action in the Middle East is too great” Lipkow explained. “Similarly, the latest word in the resurgent trade dispute may still be pending”. He noted that a baseline nervousness persists in financial markets, a sentiment mirrored in precious‑metal prices.
Just before the market closed, the shares of Commerzbank topped the Frankfurt listings, followed by Eon, MTU, and RWE. The lowest‑pacing stocks were those of Brenntag, Rheinmetall and Beiersdorf.
Gas prices moved higher: a megawatt‑hour of March delivery gas cost 31 euros, implying a consumer price of at least eight to ten cents per kilowatt‑hour when taxes and ancillary costs are included, should that level remain stable.
Oil slipped slightly. A barrel of North Sea Brent was priced at $70.68 in the German afternoon, down nine cents-or 0.1 percent-compared with the previous trading day’s close.
The euro strengthened in the afternoon: one euro traded at $1.1801, meaning one dollar could be exchanged for 0.8474 euros.