FRANKFURT (dpa-AFX) - On Wednesday, the DAX climbed above the 25,000-point mark for the first time. Barely a quarter of an hour after the Xetra opening, Germany's leading index gained half a percent to reach 25,020 points.
The MDAX is also on the rise, hitting its highest level since spring 2022. Most recently, the index of mid-cap stocks increased by 0.3 percent to 31,773 points. Meanwhile, the EuroStoxx 50, the leading index for the eurozone, was little changed.
The U.S. attack on Venezuela and the capture of Venezuelan President Nicolás Maduro by U.S. elite forces in the early months of 2026 has not caused uncertainty; rather, it has sparked hopes for falling oil prices, a trend that has already partially materialized. Cheaper oil is good for the global economy, could ease inflationary pressures, and may prompt further interest rate cuts by central banks.
Thanks to the German government's billions in infrastructure and defense spending, the prospect of a revival in the German economy is considered a key driver for the DAX in the new year. Seasonality also favors rising prices, as January is typically one of the stronger months for the stock market.
Market analyst Jochen Stanzl from Consorsbank cites three reasons for the DAX's rise: first, relief that the U.S. attack on Venezuela did not escalate into a military conflict; second, the outlook for medium-term declines in oil prices; and third, renewed investor appetite for stocks outside the U.S. The "New Year's rally" in the DAX is in full swing. From a technical perspective, Stanzl sees 25,300 points as possible./ajx/mis
