Dax currently: Dax gives up gains again by the end of trading - Fresenius rises by five percent
The positive effects are strengthening on the German stock market. The dynamic increase since mid-July is resulting in profit-taking on Wednesday.
Düsseldorf: The German stock market continues to show optimism, as the DAX index set three consecutive record highs on Wednesday. The index opened at 26,403.81 points, marking a new all-time high. Following the rally, profit-taking set in, and by the end of trading, the DAX remained unchanged at 26,126 points. Since July 20, the index has only experienced one losing day, rising by 1,500 points, or more than six percent.
Analyst Martin Utschneider of Robomarkets explains that the market is currently in an overbought territory. However, he expects the record-breaking rally to continue for now. "The market is pricing in a positive causal chain," says QC Markets market expert Thomas Altmann. The key driver is the anticipated opening of the Hormuz Strait, which would lead to further declines in oil and gas prices.
This, in turn, would lower energy costs, dampen inflation expectations, and put downward pressure on interest rates.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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