FRANKFURT (dpa-AFX) - The series of positive trading days for the DAX continued on Wednesday. Support also came from overseas markets. Stock markets in the US had gained ground, and Asian exchanges were also mostly up. In Germany, numerous companies are set to provide impetus with their quarterly reports.
The SPD membership vote on the coalition agreement is also eagerly awaited. "The formation of the coalition is already priced in. Therefore, a negative vote could send significant shock waves through the markets," explained portfolio manager Thomas Altmann of QC Partners in Frankfurt.
After six trading days in positive territory, the German benchmark index rose by 0.5 percent to 22,533 points shortly after the start of trading. The record high of 23,476 points set in March is getting closer. However, the road to the top is likely to be rocky, as technically speaking, the next resistance level is already lurking at just over 22,570 points.
The MDax index of medium-sized companies rose by 0.8 percent to 28,672 points at the start of trading. The EuroStoxx 50, the leading index for the eurozone, rose by 0.2 percent to 5,174 points.
At the end of a turbulent month of April, the DAX is now back up by a good one percent and has even gained around 13 percent since the beginning of the year. As a result of the tariff conflict triggered by the US, it had temporarily lost almost 17 percent over the month and surrendered its entire annual gain.
DHL and Mercedes are in the spotlight on the DAX today with their figures. Details on the recently presented preliminary figures came from VW./ck/jha/
