FRANKFURT (dpa-AFX) - The Dax staged a modest recovery on Wednesday, clawing back some of the significant losses sustained in the previous session. Market attention was split between another deluge of corporate earnings and U.S. President Donald Trump's arrival in China. Investors are hopeful that the state visit might see China take on a mediating role in the stalled peace negotiations between the U.S. and Iran.
However, poorly received U.S. inflation data dampened buying appetite in the afternoon. The German benchmark index reclaimed the 24,000-point threshold right at the opening bell, having slipped below that level the day before. After intraday gains of up to 1.1 percent, the index ultimately closed up 0.76 percent at 24,136.81 points. The MDax, which tracks mid-cap stocks, climbed 1.26 percent to 31,400.41 points.
The Eurozone's blue-chip EuroStoxx 50 index rose by 0.9 percent, while markets in Zurich and London also trended higher. Meanwhile, major U.S. indices lacked a clear common direction as European trading drew to a close.
Last week, hopes for an agreement between the U.S. and Iran had propelled the Dax as high as 25,152 points. However, a lack of progress in negotiations quickly led to renewed disillusionment./gl/he
