The German benchmark index rose 0.7 percent to 24,254 points at the opening on Wednesday, approaching its high of 24,325.97 points set last week. "The stock markets are now reacting less and less to new tariffs," commented Thomas Altmann, portfolio manager at asset manager QC Partners. "Some on the trading floor suspect that these tariffs are more of a short-term pressure tactic and may not last too long." As announced, the US tariffs on steel and aluminum imports, which had been raised to 50 percent, came into effect in the morning.
In terms of individual stocks, Infineon was the biggest DAX winner with a gain of up to four percent. Airbus also rose by more than three percent at the start of trading after Bloomberg reported that Chinese airlines were considering ordering hundreds of Airbus aircraft. Airbus declined to comment.
(Report by Stefanie Geiger, edited by Philipp Krach. If you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).
