FRANKFURT (dpa-AFX) – After the previous day’s slump, the German stock market opened with moderate gains in the middle of the week. The Dax rose 0.47 percent to 18,249.96 points in the first few minutes of trading. The MDax rose 0.54 percent to 25,261.51 points. The leading eurozone index, the EuroStoxx, rose around 0.7 percent.
On Tuesday, the Dax had fallen to 18,030 points before finding some buyers in the afternoon. On the upside, it is about exceeding the previous day’s high of 18,286 points and the 21-day line located nine points above. As on Tuesday, the momentum of American technology stocks was able to help. In addition to the generally strong semiconductor stocks, Tesla particularly stood out with a rise of more than 10%. Investors welcomed the unexpected delivery figures for the first quarter. However, the uncertainty related to the political situation in France remains.
Thomas Altmann, an analyst at QC Partners, believes that the statements by Fed Chairman Jerome Powell at the central bankers’ meeting in Sintra, Portugal, were the main driver of Wall Street’s rise the day before. “Given in particular the statements on the slowdown in the labor market and the risks of a first rate cut that is too late, stock market investors are seeing their expectations of a first rate hike in September confirmed,” Altmann said./edh/nas
