Stock exchange in Frankfurt - Investors continue to buy - DAX rises slightly
Dax investors have another record high in sight on Wednesday. In early trading, the leading index gained 0.15 percent to 16,816.23 points. The MDax of mid-caps rose by 0.20 percent to 26,636.25 points. The eurozone index EuroStoxx was up 0.2 percent.
Since last Tuesday, the Dax had reached record highs with one exception - the previous day at 16,837 points. It had thus extended its year-end rally since the interim low in October to a good 15 percent.
The focus on Wednesday will be on the key interest rate decision in the USA in the evening. At its last interest rate meeting of the year, the US Federal Reserve is likely to remain silent on monetary policy once again. The hope of interest rate cuts in the near future is currently the biggest driving force for the stock market. Market participants are also expecting interest rate cuts from the European Central Bank (ECB) in the coming year, but no change in key interest rates is expected at the next interest rate meeting tomorrow (Thursday).
Among individual stocks, the German market was moved by analysts' reclassifications in the middle of the week. A double upgrade from "sell" to "buy" by the Swiss bank UBS gave further impetus to the recovery in BASF shares. The chemical company's shares rose by 3.6 percent at the top of the Dax. Chemical stocks were generally in demand: Lanxess and Evonik rose by up to 2.2 percent in the MDax.
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The DAX and MDAX both saw gains in Frankfurt, with the DAX inching closer to another record high at 16,816.23 points. This follows a year-end rally since October, where the DAX has increased by approximately 15%. The focus on Wednesday shifts to the US Federal Reserve's key interest rate decision in the evening. Meanwhile, in the middle of the week, analysts' reclassifications spurred demand for chemical stocks, boosting BASF shares by 3.6% and lifting Lanxess and Evonik in the MDAX by up to 2.2%. These share price fluctuations occur on the leading German exchange in Frankfurt on the Main.
Source: www.stern.de
