Dax current: Dax is in the black - oil prices continue to rise

Dusseldorf. The Dax starts trading with profits on Wednesday. The price board in Frankfurt shows an increase of 0.4 percent at 25,359 points in the morning.

On Tuesday, the leading German index closed just in the red at 25,260 points. The start of the US accounting season did not convince investors on the stock exchanges on both sides of the Atlantic. Price losses in semiconductor stocks also contributed to the poor mood.

Traders pointed to media reports that the Chinese semiconductor manufacturer CXMT wants to bring a new generation of memory chips for data centers onto the market. The sell-off in the technology sector led investors to buy government securities that were considered safe, which put some pressure on the recent rapid rise in yields on the bond market.

The US balance sheet season is also in focus in the middle of the week. After the business figures of the first important US banks on Tuesday, the balance sheets of Morgan Stanley and Bank of America will follow on Wednesday. The focus of the economic data is the US inflation report for September, which, according to experts, is likely to show a renewed increase in the inflation rate.

Oil prices are rising again

Oil prices rise after two ships were hit by Iranian missiles in the Strait of Hormuz. Brent crude oil (for delivery in December) rose in price by 1.4 percent to up to $107.15 per barrel. Iranian officials told Reuters that Iran would use new tactics to target ships.

Tehran is trying to keep oil prices high and thus influence the US midterm elections. “The fact that Iranian officials openly admit to undermining U.S. efforts to control oil prices speaks volumes about the true intentions behind the so-called ‘peace talks,’” said Priyanka Sachdeva, an analyst at Phillip Nova.

Iran is aware of its geographical importance and the impact of higher oil prices on the global economy and is using this influence. The British Maritime Authority confirmed on Tuesday that a container ship and a tanker had been hit by unknown projectiles in the Strait of Hormuz.

Oil prices had increased again since Tuesday afternoon. The development was only slowed somewhat by the Organization of the Petroleum Exporting Countries (OPEC)'s most recent forecast for significantly weaker growth in global oil demand.

The situation also remains tense in other parts of the region. Saudi Arabia intercepted more Houthi missiles and drones from Yemen. There is still no end in sight to the fighting with the Iranian-backed militia. The latest attacks also hit the headquarters of the state oil company Saudi Aramco in the east of the kingdom.

Iran war causes energy prices to rise

Brent oil has risen in price by more than 70 percent since the beginning of the year. The war between the US and Iran has significantly disrupted energy markets.

“Crude oil exports continue, but uncertainty remains high,” wrote analysts at US bank Morgan Stanley. At the same time, attacks on Saudi Arabia's infrastructure have increased. The bank raised its forecast for Brent crude for the current and next quarters by five US dollars per barrel.

Look at individual values

BMW: According to Handelsblatt research, the company has been sending employees from its German locations to Hungary and back several times a week for months. One reason: Without the German employees, BMW cannot currently ramp up production at its flagship plant in Debrecen, Hungary, near the Romanian border. The papers rise by 0.3 percent.

Infineon: Stock exchanges worldwide have been hit by another wave of selling in chip stocks. Recently, however, the chip industry has stabilized on the stock market. Infineon's shares rose by 0.8 percent.