The leading German index is on a downward trend this year – despite the recent recovery.
(Photo: Bloomberg Creative/Getty Images [M])
Frankfurt On Wednesday, the German stock market continued the development of the previous day. Speculations about a scheduled resumption of Russian gas supplies triggered euphoria on the stock exchanges on Tuesday afternoon. Several media had reported that Russian gas supplies are expected to resume on Thursday after maintenance work is completed.
The Dax was 0.4 percent higher at 13,366 points in the late morning after rising 2.7 percent the day before. The MDax of medium-sized stock exchange companies gained 1.3 percent on Wednesday to 26,863 points. The Eurozone leading index EuroStoxx 50 went up by around 0.3 percent.
Tailwind also came from the US stock markets on Tuesday, which in turn are benefiting from slight relaxation tendencies in prices at gas stations. Already there are those who believe the worst of the current downturn is over. One analyst said it might be close to bottoming out.
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