FRANKFURT (dpa-AFX) - Amidst the peak of the quarterly earnings season, signals of a potential de-escalation in the Iran conflict and the ongoing Artificial Intelligence (AI) boom drove stock markets sharply higher on Wednesday. A significant drop in oil prices, which briefly dipped below 100 US dollars, provided a reprieve for investors, prompting a return to risk assets.
A report from the US news portal Axios, suggesting that the United States is nearing an agreement with Iran to end the hostilities, provided a substantial boost to prices. However, Iranian Foreign Ministry spokesperson Esmaeil Baghaei dismissed the report as exaggerated. US President Donald Trump also recently tempered expectations, according to various reports.
The Dax rose by 2.12 percent to close at 24,918.69 points. During intraday trading, the German benchmark index surpassed the 25,000-point threshold for the first time since late February. The Dax is now within striking distance of the record high reached in mid-January.
The MDax, which tracks mid-cap stocks, climbed 2.08 percent to 31,779.41 points. The Eurozone benchmark EuroStoxx 50 saw even stronger gains, advancing by 2.7 percent./bek/he
