The leading German index had reached several new record highs in the last stock market year.
(Photo: Bloomberg Creative/Getty Images [M])
Dusseldorf The mood on the stock market brightened somewhat on Wednesday. The Dax rose 1.6 percent to 15,482 points, an increase of 240 points.
This is the third daily gain in a row, on Tuesday the leading index closed 0.2 percent higher at 15,242 points. For the capital market expert Thomas Altmann, the current situation is “certainly not spring awakening, but at least a melting ice cream”.
The Dax was driven by the shares of the automobile manufacturers. They benefited from burgeoning economic hopes and good business figures from Toyota.
The stocks of Mercedes-Benz, Volkswagen and BMW posted daily gains of between 3.8 and 6.1 percent. The shares of the VW holding company Porsche SE gained 8.2 percent at the top of the Dax.
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However, Wednesday’s price gains do not change the intact Dax downward trend since the beginning of the year. The overarching chart and market technical warning and weakness signals are still there.
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