Dax current: Dax just below record level – AI profiteers win

Just a few days after the massive tech collapse, the Dax is back near new highs. This is primarily due to the companies' solid balance sheets.

Dusseldorf. A record high for the German leading index is still within reach on Wednesday: at 26,624 points, the Dax is up one percent and only around 70 points below the high of 26,692.90 points from last week. The setback caused by tech sales is almost forgotten after a few days.

Observers blame the continued positive sentiment among investors primarily for the rapid recovery. Martin Utschneider, chart analyst, says: “The all-time high seems within reach, and the chances are quite good that the Dax could reach a new historical record as early as this Wednesday.”

Wednesday's quarterly figures also provided at least a slightly positive impulse, as they were in line with or slightly above market expectations. These include:

RWE: The electricity supplier's shares benefit from the group's figures, which are slightly above expectations. The shares gain almost one percent.

Eon: The figures for the third quarter are as expected. The share therefore hardly moves.

Siemens Energy: The energy technology group continues to benefit massively from the growing demand for electricity and expects business figures to continue to rise. The share rose by 6.6 percent.

After days of relaxation, oil prices have risen again. Brent crude oil from the North Sea for delivery in January rose in price on Wednesday by 1.2 percent to $92.57 per barrel (159 liters). US oil WTI was 0.7 percent higher at $86.68.

Strategists see questions in the market as the most important factor for price developments as to the extent to which Iran will respond to US demands in order to reach a diplomatic agreement. “Given the uncertainty surrounding diplomatic talks, there has been an increase in attacks on ships in Gulf sea lanes,” said June Goh, senior analyst at Sparta Commodities. “Now that the US midterm elections are over and more crude oil is being exported from the Middle East, the outlook for oil prices appears to be rather pessimistic.”

In the afternoon, Germany's “economic experts” will also present their annual report. Before that, it will be handed over to Federal Chancellor Friedrich Merz (CDU). It is expected that the Advisory Council will significantly increase its growth prospects for this year and next. The federal government expects gross domestic product to increase by 1.3 percent this year.

The main reasons are better exports and high government spending on infrastructure modernization. However, economists doubt that this will be a sustainable upswing. The federal government is currently struggling with fundamental reforms so that German companies can become more competitive.

Look at other individual values

Infineon: The chip manufacturer's shares benefit from the good figures from the cloud service Coreweave overnight. Infineon gains more than five percent.

BASF: BASF shares have slipped to the bottom of the Dax after a skeptical analyst comment. The titles lose one percent. Investment bank Jefferies downgraded its rating on the stocks to “Underperform” from “Hold”.