Supported by the hope of an end to the war in Ukraine and the ongoing recovery of the US stock markets, the German stock market continued to recover in the middle of the week.
At the start of trading, the DAX showed a premium of 0.51 percent to 23,585.26 points. After that it stays above the zero line.
Latest DAX records
On October 9th, the DAX reached a new record high of 24,771.34 points. Ultimately, it ended that day at 24,611.25 units, which was also a new record based on the closing price.
Buying arguments now exist
Not only are guidelines from the USA supporting the German market, the strong recovery of the US stock markets also boosted the stock markets in Asia on Wednesday. In Japan, the Nikkei ultimately gained 1.85 percent to 49,559.07 points.
“Many people who recently looked in vain for buying arguments are now finding them,” commented portfolio manager Thomas Altmann from QC Partners.
Hopes for a solution to the Ukraine conflict and Interest rate cut drive
In addition to the expectation of an interest rate cut by the US Federal Reserve, there are indications of a rapprochement between the conflicting parties in the Ukraine war. A series of weaker US economic data has renewed concerns about the state of the US economy, which could put the US Federal Reserve under additional pressure to act. The previous day, retail sales for September fell short of expectations, and the private sector also cut 13,500 jobs a week in the four weeks ended November 8, according to the latest ADP data. In addition, consumer sentiment has also weakened. There also seems to be movement in the talks about peace in Ukraine. US President Donald Trump spoke of significant progress.
Editorial team finanzen.net / dpa-AFX / Dow Jones Newswires
Image sources: KenDrysdale / Shutterstock.com, Aleksandra Gigowska / Shutterstock.com