Dax started in the red and moved away from the 19,000 mark again ()

FRANKFURT/MAIN (dts news agency) – The Frankfurt Stock Exchange initially recorded losses at the start of trading on Wednesday. At around 9:30 a.m., the DAX was calculated at around 18,900 points, which corresponds to a loss of 0.5 percent compared to the previous day’s close. Bayer, Porsche Holding and Siemens were at the top of the list, with SAP, Airbus and Siemens Energy at the bottom. The DAX had exceeded the 19,000 mark for the second time during the day on Tuesday, but the German leading index was once again unable to close above this mark.

“As in the last few times, profit-taking has started when the new all-time high was reached,” said Thomas Altmann of QC Partners. The low volume of outstanding DAX futures contracts is striking. This open interest is as low as it was last in 1995. “This indicates that the hedging ratio via futures is currently extremely low,” said Altmann. Dollar, one dollar was therefore available for 0.8935 euros. The oil price fell below this: a barrel of the North Sea Brent variety cost 74.84 US dollars at around 9 a.m. German time; that was 33 cents or 0.4 percent less than at the end of the official trading day.

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