FRANKFURT (dpa-AFX) - The German stock market started Wednesday's session on a firmer footing. Minutes after the Xetra opening, the Dax rose by 0.39 percent to 24,366 points, remaining comfortably above its 200-day moving average, a key indicator of the long-term trend. Gains in Siemens shares supported the index at the midweek point.
The MDax, which tracks mid-cap stocks, climbed 0.50 percent to 31,505 points. Meanwhile, the EuroStoxx 50, the benchmark index for the eurozone, edged up by 0.4 percent.
In a surprise last-minute move, US President Donald Trump unilaterally declared an extension of the ceasefire with Iran. However, reports indicated that the US naval blockade of Iranian ports would remain in place.
A renewed escalation remains possible at any time, commented market expert Andreas Lipkow from broker CMC Markets. The Dax appeared largely unfazed by the extension of the ceasefire./ajx/nas
